ACCC Stand Down, Will Not Appeal Woolworths Ruling
The ACCC has announced that it will not appeal the judgement made in the federal court that saw Judge David Yates dismiss allegations that grocery giant Woolworths broke the law by demanding retrospective payments from suppliers to plug a hole in its profits in the weeks leading up to Christmas 2014.
“The ACCC has considered this judgment carefully and decided not to appeal,” ACCC Chairman Rod Sims said.
During the court hearing, Woolworths admitted to tapping suppliers for extra money after finding a hole in its December-half 2014 profits, but claimed its demands were common practice in grocery retailing.
“The ACCC has noted the acceptance by the Court of the evidence given by Woolworths executives, and the Court’s comments on the ACCC’s reliance on documents to establish its case. The ACCC will take these comments into account in its consideration of future cases on unconscionable conduct, including in the supermarket sector,” Sims said.
The regulator insists it will “continue to monitor industry compliance with the Australian Consumer Law in addition to the new Food and Grocery Code of Conduct that came into full effect in July this year.”