By Emily Bencic
Woolworths will face court today (Monday) after the Australian Competition and Consumer Commission (ACCC) alleged that the company developed a strategy to reduce a $50 million short-fall in its first-half gross profits by demanding more than $60 million cash from suppliers, outside formal trading agreements. The ACCC launched the proceedings in December 2015.
The ACCC proposed the following allegations:
- Woolworths developed a strategy, approved by senior management, to urgently reduce expected significant half year gross profit shortfall by 31 December 2014.
- Woolworths designed a scheme, referred to as “Mind the Gap” to systematically obtain payments from a group of 821 “Tier B” suppliers.
Read more here.
This story first appeared in Appliance Retailer.
The post Woolworths in court following ACCC allegations appeared first on Government News.
source Government News http://ift.tt/2f6POTn
ليست هناك تعليقات:
إرسال تعليق