Aldi has committed to fast-tracking payments to up to 200 Irish suppliers to ensure they get paid within five days.

The new terms will apply to all suppliers that transact up to €1m worth of business annually. They will remain in place for the duration of the COVID-19 crisis.

Aldi Ireland’s group buying director John Curtin said: “Over the last few weeks, our suppliers have experienced unprecedented difficult circumstances. Their teams have worked around the clock to provide the products to keep our shelves stocked for customers and we want to help them in return."

Cashflow

Curtin said the faster payments would greatly assist with suppliers’ cashflow requirements and, in turn, help them pay farmers and suppliers along the chain on time.

“This is a hugely difficult time for Irish business and the food sector and we need to keep supporting each other in any way we can,” he said.

Aldi expects to sell over €750m worth of goods sourced from Irish producers, manufacturers and suppliers across the country in 2020.

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Aldi to fast-track payments to 200 suppliers

Suppliers to Aldi will be paid within five days, which will allow farmers further down the supply chain to receive payments sooner.