M&S to pay small food suppliers within 7 days from next month

Marks & Spencer has unveiled its plans to start paying all of its small food suppliers within seven days from October 1.

The move comes as part of the grocer’s plans to strengthen the growth of its small suppliers and enhance its food arm’s transformation strategy.

M&S also added that it wants to promote its relationships with small growing suppliers as they help “bring new concepts and products to the market”.

READ MORE: M&S takes aim at EU’s ‘fandango of bureaucracy’ on imports

“At a difficult time for grocery supply chains, we believe this significant step will make a major difference to the small businesses and their employees across the whole UK that are helping us protect the M&S magic and keep our food supply moving,” M&S commercial director George Wright said.

“We have deep and long-standing partnerships with our suppliers, who our customers rely on to produce delicious, great quality M&S food at trusted value.”

Over one third of M&S’s supply base is made up of small suppliers.

The news comes as M&S announced the closure of 11 of its stores in France due to fresh and chilled food supply issues following Brexit.

The grocer attributed the disruption caused by Brexit for its decision to shut all franchised shops with partner SFH in France.

It said: “The lengthy and complex export processes now in place following the UK’s exit from the European Union are significantly constraining the supply of fresh and chilled product from the UK into Europe and continuing to impact product availability for customers and the performance of our business in France.”

The sites, which are located mainly on the high streets of Paris, are set to close by the end of the year.

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