MR KIPLING cake-maker Premier Foods has launched an ardent defence of its controversial so-called Invest for Growth plan. after receiving widespread criticism for asking suppliers for payments in exchange for its business.
In its annual report published yesterday, chief executive Gavin Darby admitted it had made mistakes but claimed that overall it had been a success in helping to halve its supplier base.
“Our remaining suppliers have benefited as a result, including many small and medium sized businesses,” he said.
In December, a BBC Newsnight investigation revealed that Premier Foods had sent letters to suppliers informing them that to continue working with the company they would be required to make “an investment payment”.
Former Business Secretary Vince Cable slammed the company last year, describing the so-called “pay to stay” scheme as “wrong”.