Obi regrets error regarding payment terms for some suppliers

The German DIY retail group Obi is to pay a competition fine in the Czech Republic. The Czech Competition Authority (ÚOHS) is demanding a payment of 4.8 million koruna (EUR 200,000). The company has confirmed a report to this effect by Radio Prague International.

The DIY retailer is accused of demanding longer payment terms than the statutory 30 days from suppliers of food or agricultural products. Obi has admitted to the error and expressed regret. It affects eight suppliers, with whom the company continues to maintain good relations.