23 February 2016
Ethical management practices will help rebuild and protect Tesco’s reputation
Despite the UK becoming one of the first EU countries to implement late payment legislation back in 1998, it would appear that the culture of prompt payment, that the law was designed to promote, is far from established.
In January, the supermarket ombudsman found Tesco guilty of knowingly delaying payments to suppliers to improve its own financial position. This revelation resulted from the discovery of a substantial black hole in the company’s accounts back in September 2014 to the tune...