The UK Office of Fair Trading (OFT) has launched a review of the nation’s industry practices, a move that comes a year after a Supermarkets Code of Practice was put into effect there to regulate the relationship between retailers and suppliers.
It also comes a day after there were media reports that Safeway Plc was “squeezing” its suppliers in violation of the code. The OFT said that it was coincidental that the review was taking place as an acquisition frenzy for Safeway has been taking place, though it admitted that they couldn’t be completely divorced from each other.
It also comes a day after there were media reports that Safeway Plc was “squeezing” its suppliers in violation of the code. The OFT said that it was coincidental that the review was taking place as an acquisition frenzy for Safeway has been taking place, though it admitted that they couldn’t be completely divorced from each other.
- KC's View:
- Not to be skeptical of the British authorities (are there two words that go more naturally together than “British authorities?), but we don’t really believe in coincidences. Especially not when there are billions of dollars at stake.
