Premier Foods uses its loaf and agrees to repackage controversial scheme after being accused of blackmailing suppliers to pay to retain contracts
Premier Foods, which was accused of blackmailing its suppliers to pay to retain their contracts, is reworking the scheme dubbed ‘pay-to-stay’.
The company, whose products include Hovis, will still tap suppliers for cash to help fund its growth but plans to repackage the scheme so that it appears more acceptable.
Use your loaf: Premier Foods, which was accused of blackmailing its suppliers to pay to retain their contracts, is reworking the scheme dubbed ‘pay-to-stay'
Chief executive Gavin Darby said: ‘This mechanism has been widely misunderstood and misinterpreted. In this situation, we are fully prepared to simplify the details of our future programme to a more conventional type of discount negotiation, potentially based on price, value or volume-based rebates, or lump sums.’
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