Tuesday, June 23, 2009

Primark signs up to supplier code.

Primark - who have been heavily criticised for their unethical manufacturing practices in the past - has adopted a government initiative Prompt Payment Code, which aims to stop bigger retailers holding back payments to improve their own cash flow at the expense of smaller suppliers.
If retailers who have signed up to the initiative fail to pay their suppliers within an agreed time frame then they would risk being struck off the register. John Lewis, Tesco and Asda are also believed to have signed up to the scheme but other big high street names are also set to follow.

Now more than ever, retailers and suppliers need to work together and be transparent.

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