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Financial Post

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Articles from financial post

Wal-Mart Stores Inc suppliers feeling the pinch from extended payment terms

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Hollie Shaw | September 14, 2015 9:52 AM ET
More from Hollie Shaw | @HollieKShaw

Beth Hall/Bloomberg NewsNew warehousing fees introduced by Wal-Mart in the U.S. have some suppliers considering lawsuits. * * -------------------------------------------------
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TORONTO — Wal-Mart’s suppliers may balk at paying new warehousing fees or extended payment terms imposed by the retailer’s U.S. division, and some will have to seek financial help to get through the time crunch, experts say — but it’s unlikely any of them will want to stop doing business with the world’s biggest mass merchant.
Wal-Mart Stores Inc., the parent company of retail chain Walmart Canada, announced the measures in June and a report last week suggested some U.S. suppliers would seek legal recourse against what they deem to be unfair measures by the retailer.
Wal-Mart told 10,000 suppliers to its U.S. stores about the fees and other changes to vendor agreements in mid-June, according to a Bloomberg report. The changes included asking the vendors for fees to use its distribution centres, warehouses and to secure shelf space in new stores and, in some cases, extended the amount of time Wal-Mart would have to pay suppliers.
It isn’t going to always be easy for our suppliers. Change isn’t easy
Several vendors are hiring lawyers in a bid to reverse or amend the terms, Bloomberg News reported, and some hope to use…...

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