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The Guardian - UK

Business

Alex Lawson

DARK SECRETS: Thg under cashflow pressure as top credit insurer reduces coverage | Rare Historical Photos

THG Matt Moulding Allianz Trade Headache

Matt Moulding, founder and CEO of THG. — Matt Moulding, founder and CEO of THG, has seen the value of company plunge since its IPO in 2020. Photograph: Christopher Thomond/The Guardian

The troubled online beauty retailer THG faces more pain after a leading credit insurer reduced cover to its suppliers.

The Guardian can reveal that Allianz Trade, one of the UK’s largest credit insurers, cut back cover for suppliers to the beauty-to-nutrition retailer, formerly known as the Hut Group, in recent weeks.

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