CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Comments - Tesco admits breaking grocery code of practice over treatment of suppliers
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Comments - Tesco admits breaking grocery code of practice over treatment of suppliers PDF Print E-mail
Monday, 08 June 2015

Tracy Ewen, managing director of IGF Invoice Finance, comments on the news that Tesco has admitted breaking grocery code of practice over treatment of suppliers:

“The admission from Tesco that it has been mistreating its suppliers tells many small business owners what they already know - that the payment terms many are subjected to are unacceptable. For a large number of small businesses this clearly isn’t a practice that’s sustainable, but it is a reality they have very little power to change. Furthermore, the news that the Grocery Code Adjudicator (GCA) will soon be able to fine retailers 1% of UK revenue will be welcomed by SME owners; a huge extension of its current limited powers to merely ‘name and shame’.
"However, until such powers to fine and take serious legal action against supermarkets are introduced, we may see small companies fold unnecessarily. The macroeconomic impact of this could have damaging repercussions for the economy as a whole. For those firms mired in long payment terms, there are options available that cover the gap between work completed and money in the bank. It’s therefore important for firms to thoroughly review their options and make use of any free financial advice that their own financial partners and suppliers can offer before pressure from large customers impacts their growth or operations.”

(Source - IGF Media Alert)

3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197