Morrisons treat their suppliers 'worst'
Morrisons supermarkets have the worst record when it comes to mistreating their suppliers.
This is according to The Times, who quoted the industry watchdog. As a result, Morrisons saw their shares dropping in price (presumably hit by the Brexit vote also).
Morrisons' share price dropped by 4.54%.
The supermarket was found to have breached the grocery market code of conduct, as they were demanding lump sums from their suppliers.
Christine Tacon, of the Groceries Code Adjudicator (GCA), said that a fifth of those who responded to a survey of over 1,000 suppliers and trade associations reported that Morrisons 'rarely' or 'never' complied with industry rules governing supply chain relations.
As well as Morrisons, Iceland and Asda were the companies thought to be most likely breach of code of practice, which happens to be legally binding.
Those most most likely to comply 'consistently well' are Sainsbury's, Aldi and Lidl.
Morrisons won't get the force of a full investigation, as the watchdog is happy that the supermarket is taking measures to rectify this.
TOPICS: High Street News