UNITED KINGDOM.
SUPERMARKETS SPEED UP PAYMENTS.
Asda supermarkets part of the Wal-Mart group, announced on Friday a new payment policy for their suppliers. This measure is to help suppliers who are struggling through the economic downturn.
As the UK heads into recession, ASDA have signed up to a UK government Prompt Payment Scheme. This voluntary code of practice was launched earlier in December by Business Secretary Peter Mendelson, to try and ensure that suppliers were paid promptly for goods sold.
Asda has signed up saying, "This is further evidence of our commitment to paying every supplier on time. It is already working with a selection of small suppliers whose payment terms are within 30 days. Beef farmers can receive a cheque the working day following the delivery of lambs or cattle to the abattoir".
Asda will be supplying 1.3 million turkeys across the country, during the Xmas period. The company that was started by Associated Dairies, has always had a reputation for high quality meat whether beef, lamb, pork or poultry.