M&S Chief Executive Marc Bolland has allegedly asked suppliers for money towards the cost of its £600 million store refurbishment project. The retailer has defended the demands in talks with its large suppliers.
M&S asked suppliers to contribute 1.25 per cent of their annual sales to the retailer, with some long-term suppliers saying they have no choice in the matter. In the Financial Times newspaper, Michael Wolff of The Fielding Group – suppliers to M&S - said suppliers were coming under more pressure from retailers. “We are at the bottom of the barrel,” he explained.
The retailer has said that all suppliers will benefit from the better-looking stores and that it is right that suppliers should share the pain. (29 Nov)
©2011 -ESM:European Supermarket Magazine
