IFA: Retail Legislation 'Must Address' Below Cost Selling
Published on May 16 2014 9:20 AM in Retail
The IFA has said that proposed regulations to govern retailer-supplier relationships must include a ban on below-cost selling of products, in order to be "meaningful".
IFA President Eddie Downey said “Enterprise Minister Richard Bruton must learn from the lessons of the past and introduce regulations that will stop the outrageous discounting by retailers that occurred in the fruit and vegetable sector last Christmas, and stop such abuses for good”.
The IFA noted that the planned Competition and Consumer Protection Bill does not prohibit below-cost selling. The Bill went before the Oireachtas Select Committee on Jobs, Enterprise and Innovation yesterday.
The IFA is also calling for an independent Ombudsman, similar to the Groceries Code Adjudicator in the UK, to oversee and implement the proposed new grocery regulations governing the retail trade. “The independent Ombudsman must be able to investigate complaints and sanction compensation for suppliers who have been wronged,” said Downey.