Aldi has announced it will be extending its temporary shorter payment terms for small and medium Irish suppliers for 2021.

Group buying director John Curtin said that they recognised the challenges faced by everyone during the COVID-19 pandemic, particularly the food and drink sector, and said it was part of Aldi's initiative to support its Irish supply base and thank them for all their hard work.

The extension of the fast-track payment means a lot to suppliers and Dromod Boxty managing director Aine Faughnan said her company had benefited from the system.

“The quick turnaround has ensured while we are producing at a higher volume we are in a position to continue to do so. Cashflow is so important right now for small businesses, so schemes like this really make a huge difference,” Faughnan said.