Morrisons extends small suppliers immediate payments pledge

By Luke Tugby2020-06-08T10:39:00

Morrisons is extending its pledge to make immediate payments to small suppliers for a further three months to help them through the coronavirus crisis.

The grocer said farmers, food producers and other small businesses that supply it with goods will continue to be paid immediately until September.

Morrisons brought in the policy in March and said it would last until the end of May in a bid to “support the cash flow” of small businesses “during a difficult time for the British economy”.

The retailer also reclassified companies with up to £1m of businesses with Morrisons as a smaller supplier – a limit that had been previously set at £100,000 – allowing more firms to benefit from speedier payments.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Two free article views per calendar month on Retail-Week.com
Detailed analysis of current trends and events
Exclusive newsletters
In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.