U.K. supermarkets to get huge fines if found ripping off suppliers

In a move to ensure U.K.'s top grocers aren't taking advantage of smaller suppliers, the country's first supermarket watchdog has been named.

The Sunday Times reported that Christine Tacon, as the U.K.'s groceries code adjudicator, will tackle bullying, illegal kickbacks, and the overall dominance of the country''s ten largest supermarkets with an annual turnover of over £1bn and their direct suppliers.

The Big 10 include Tesco, The Co-operative, Sainsbury’s, Marks and Spencer, Asda, Lidl, Aldi, Waitrose, Iceland and Morrisons.

Under Tacon, the big 10 will be named and shamed, and fined millions to ensure smaller businesses getting a fair deal under the Groceries Supply Code of Practice.

The Grocery Market Action Group, representing suppliers organization, and NGOs, has said 3,000 farmers and other suppliers have gone out of business in Britain because of unfair buying policies.

Tacon assumes her role next month. To read more go here.







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