The Endeavour Group has made 14 payment terms for small suppliers permanent, an arrangement initially introduced as a pandemic support initiative in March 2020.
These payment terms will be available to suppliers who receive payments from Endeavour Group of less than $1 million, with less than $10 million in annual turnover.
Steve Donohue, Managing Director and CEO of Endeavour Group, said that although pandemic-related restrictions are long over, small suppliers are still facing a myriad of challenges.
“In March 2022 we announced that we would extend 14-day payment terms until June 2023, but in response to supplier feedback over the last year, we are pleased to have made the decision to keep them in place for good.
“While lockdowns seem like a distant memory now, the flow-on effects for our small suppliers cannot be underestimated,” he said.
Donohue said the extension of the arrangement recognises that doing business in the post-pandemic world involves ongoing issues, especially relating to supply chains, high inflation and rising costs.
“In order to have a vibrant drinks industry, it is important these businesses are given every opportunity to succeed. And our ability to provide customers with the most extensive range of drinks, to suit all tastes and preferences, depends on them.
“We are committed to working in close partnership with our suppliers to get their products to more people right around Australia,” said Donohue.
During the pandemic, the Endeavour Group took on 900 additional small suppliers, to which these new payment supports apply.
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