Last Friday, the Competition Commission published its long awaited provisional decisions on how to remedy its competition findings in the grocery sector. For suppliers to the large supermarket chains, that have felt frustrated in the past with the way their bills are paid, and disputes resolved,the document offers some real hope.To me, the most important proposal is that an ombudsman would be appointed to look into disputes and proactively investigate confidential complaints from suppliers about dubious trade practices.The CC says that this is their preferred route, otherwise they suggest an independent arbitrator, who I’m guessing would have lesser powers.Now we will await reaction over the next few weeks before the CC finalises everything in April/May.we’ll soon find out just how powerful the supermarket lobby is- will the ombudsman stay in the final report, or will things be watered down?
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies