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Tesco Slammed By Watchdog For Withholding Payments To Boost Profits
- Marketing, Thursday, January 28, 2016 8 AM
Tesco deliberately delayed payments to suppliers in order to bolster profits, with internal emails suggesting that payments should be deferred in order to meet City expectations, according to a damning report by the Groceries Code Adjudicator. The supermarket, which along with its Big Four counterparts is renowned among suppliers for abusing its power, failed to pay multi-million-pound amounts for as long as two years.
