Kroger Shoots Itself In The Foot By Forcing New 90-Day Payment Policy On Produce Suppliers: Does CEO Rodney McMullen Have The Courage To Demand The Mistake Be Corrected?
The production and vendor side of the produce industry is in an uproar, partly because these vendors don’t want to extend 90-days’ credit, partly because they don’t want to, in effect, factor their invoices and take a discount, and partly because the conditions of the PACA Trust — which serve to increase the odds that produce industry vendors will be repaid in the event of Kroger’s insolvency — preclude produce vendors from extending terms beyond 30 days. …
