News that Tesco was delaying payments to suppliers in some instances came as no surprise. Tesco "knowingly delayed paying money to suppliers in order to improve its own financial position", the supermarket ombudsman has found.
The Grocery Code Adjudicator, Christine Tacon, said the supermarket seriously breached the industry's code of conduct to protect grocery suppliers.
She found extensive evidence that Tesco had acted unreasonably when delaying payments to suppliers.
Tesco apologised for the practices, saying they had harmed its suppliers. On the day that the report was published Stalker noted that Tesco’s share price was up over 3%. Didn’t do any harm there then!
