Ocado boss Steiner won’t rule out legal action over M&S payment row
Ocado Group boss Tim Steiner has vowed he won’t “walk away” from money Ocado is owed as part of its retail joint venture with M&S, with an ongoing spat over performance-linked payments showing no end in sight.
Speaking this morning, Steiner said he was confident that Marks & Spencer owed Ocado “a substantial amount of money” and refused to rule out potential legal action, but said he hoped it would not come to that.
“We believe that we have a very solid case to get full payment, although we know that M&S may not entirely share that view,” he said.
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