Retail round-up on June 28, 2016: Morrisons, Asda and Iceland highlighted as the worst at treating suppliers, Sir Philip Green's Arcadia to get refund of £35m, Ikea discontinues selling deadly dressers.
Grocery watchdog reveals Morrisons, Asda and Iceland as worst for supplier treatment
Industry watchdog the Groceries Code Adjudicator (GCA) has revealed that Morrisons, Asda and Iceland are the grocers that doesn’t treat their suppliers well enough among the UK’s 10 major chains, the Guardian reports.
According to the YouGov survey carried out on behalf of the GCA, 62% of direct suppliers had experienced an issue in the past year, compared with 70% in 2015 and 79% in 2014.
Aldi, Sainsbury’s and Lidl were rated as the top three supermarkets in terms of complying consistently with the code during the previous 12 months.
Sir Philip Green's Arcadia to receive refund of £35m from BHS
Administrators dealing with the collapse of BHS say the retailer will need to refund £35m to Sir Philip Green's Arcadia firm, the Mirror reports.
According to a report submitted to Companies House, Arcadia will be repaid in full from what is known as the floating charge it had over BHS assets. The money is part of more than £250m loaned to BHS.
Ikea stops selling 'deadly dressers' and will provide refunds to millions
Furniture retailer Ikea is to stop the sale of 'deadly dressers' following the deaths of three toddlers. The retailer has recalled 29 million chests and dressers and will offer full refunds to customers.
Furniture manufactured between 2002 and 2016 will be eligible for a full refund, while partial store credit will be available for items manufactured before 2002.
French Connection awards logistics contract to MIQ
Fashion retailer French Connection has signed a $40m, five-year deal with MIQ Logistics for inbound logistics services. Under the deal, MIQ will provide inventory management from French Connection factories in Asia, India, Turkey, Romania and Poland to stores in Europe and North America and wholesalers in a further 50 countries.