More pain for online retailer THG as key insurer reduces cover

Cut-back of cover for suppliers is latest in a series of headaches for founder of the troubled business

The troubled online beauty retailer THG faces pressure on its cashflow 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.