Working Capital & Covid

This is a chart of the working capital of Electrolux since 2003.
It shows that the total cash collection cycle has fallen from 63 days in 2003 (a peak of 87) to zero today.
This was almost entirely achieved by payable days doubling from 60 to 120.
In short the company is squeezing suppliers.
What happens after Covid? This excellent blog post addresses this and other impacts.