(Alliance News) - AO World PLC shares slumped on Monday after the Sunday Times reported its suppliers have suffered a credit cover cut. AO World shares fell 14% to 58.65 pence each in London on Monday morning. The Sunday Times reported that Atradius, a credit insurer, has cut its credit cover for the online retailer's suppliers. Exiting Germany means AO World can now "increase its focus on its leading online position in the UK electricals market", the company said. Back in December, AO World was booted out of London's FTSE 250 index after a quarterly index review.
Source: The Times July 04, 2022 10:17 UTC