One of Australia’s leading supermarket chains, Coles, has refunding millions to its suppliers after being found guilty of unconscionable conduct by the Federal Court last year.
The Australian Competition and Consumer Commission took Coles to court in 2014, where the retailer was fined A$10m for withholding pay to suppliers as well as demanding payments from suppliers to which it was not entitled.
Coles appointed former Victorian premier Jeff Kennett as an independent arbiter, who then visited suppliers across the country to determine if they were entitled to refunds.
“I have awarded, based on submissions made to me, evidence placed before me, a substantial amount of refunds to those I thought were entitled to them,” Kennett told the Australian Broadcasting Corporation, adding that the refunds were close to A$10m.
'When I talk to suppliers now, many of them are saying there has been a noticeable change in the relationship between them and Coles,' Kennett said. 'Coles has already made some changes, but this is a work in progress and they are undertaking a much bigger review.”
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