Heinz screws suppliers and leaves a nasty taste
Heinz is, or rather, was a great brand. Tomato ketchup, probably the best in the world next to Amoura’s. Tomato soup, delicious with a sandwich for lunch. And I can’t beat cold Heinz baked beans straight from the can.
Doubling the time to wait for payments
But is has shot itself in the foot, according to The Sunday Times. It has told suppliers they will not get paid for 97 days – up from 45 days. All in the cause of saving its own cash flow.
This damages its suppliers. Changes the terms of its contracts with them. And leaves a nasty taste in my mouth.
Nobody from Heinz nor its owners, a US investor and a venture capital company, would comment on the story.
Shame on you all. I suppose it’s over to Crosse and Blackwell baked beans. I wonder what their payment period is. And what they taste like.
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