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In the UK, Retail Week reports that Tesco has conceded that it breached the grocery sector's code of practice by "mistreating and delaying payments to suppliers."

Accusations that Tesco violated these rules were leveled earlier this year by the UK's Groceries Code Adjudicator (GCA).

“Regrettably, we have concluded that there have been a number of instances of probable breaches of the code which fall short of the high standards we expect to uphold in our dealings with our suppliers," Tesco says in its annual report. “We are taking effective action to prevent this arising again. We are fundamentally changing the way we work with our suppliers to deliver a more sustainable and collaborative business model for everyone in the supply chain.”

While the GCA's enforcement powers currently are largely symbolic, the story notes that its charter is being strengthened so that in the future it will be able to fine up to one percent of their UK revenue.
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