Phil Clarke, The Grocery Code Adjudicator, has ordered Tesco to make “significant changes” in the way it deals with suppliers after finding the supermarket had deliberately delayed payments to support its profits. Tacon said Tesco had made serious breaches of the code governing the grocery market, but was unable to fine the supermarket as the breaches took place before her powers to fine were ratified. Tacon also criticised the company for making unilateral decisions on deducting amounts from invoice payments. She said even in circumstances where Tesco had acknowledged a debt, on occasion, the money was not repaid for more than a year or as long as two years.
Christine Tacon, The Grocery Code Adjudicator, has ordered Tesco to make “significant changes” in the way it deals with suppliers after finding the supermarket had deliberately delayed payments to support its profits. Tacon said Tesco had made serious breaches of the code governing the grocery market, but was unable to fine the supermarket as the breaches took place before her powers to fine were ratified. Tacon also criticised the company for making unilateral decisions on deducting amounts from invoice payments. She said even in circumstances where Tesco had acknowledged a debt, on occasion, the money was not repaid for more than a year or as long as two years.