GOOD NEWS FOR SUPPLIERS AS SAINSBURY’S MAKES FINANCE AVAILABLE TO HELP SUPPLIERS KEEP UP WITH DEMAND
Pledging support to suppliers and partners is one of the ways that Sainsbury’s is stepping up during these challenging times. Those who are of paramount importance in helping to feed the nation will be supported with vital cash flow, where needed, working collaboratively with Sainsbury’s.
The move will help businesses to increase production volumes quickly so that they can meet customer demand. Support will also be available to suppliers who find themselves in distress as a result of the ongoing uncertainty. Sainsbury’s is encouraging suppliers who would like to hear more to contact them to discuss criteria for support via its Supplier Support team at email@example.com or their regular Sainsbury’s contact.
As part of the move, Sainsbury’s has also committed to paying small suppliers immediately, which will benefit nearly 1500 small businesses who have less than £100,000 annual turnover.
Sainsbury’s will also be extending its support to tenants and concession partners and as a first step will offer all tenants the opportunity to pay rent on a monthly basis rather than quarterly in advance. It is anticipated that 250 tenants and concession partners will benefit from the new arrangements.
Paul Mills-Hicks, Commercial Director at Sainsbury’s, said:
“We want to support our suppliers and partners because it is vital that we all help each other during this challenging time. The businesses we work with are working flat out to supply us with product and going above and beyond to deliver direct to our stores. I am so proud to be working alongside them to feed the nation and we will do all we can to help.”