Aldi extends fast-track payments for over 200 Irish suppliers for entirety of 2021

Retailer will continue to process payments for suppliers that transact up to €1 million worth of business annually within five working days

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Aldi has confirmed it is extending its temporary shorter payment terms initiative for small and medium Irish suppliers for the entirety of 2021, continuing the the initiative introduced at the start of the Coronavirus pandemic.

The commitment means Aldi will continue to process payments for suppliers that transact up to €1 million worth of business annually within five working days. According to the retailer, over 200 Irish food and drink producers will continue to benefit from the shorter payment terms this year.

Aine Faughnan, managing director at Dromod Boxty, said the programme made a huge difference in ensuring cash flow for small businesses. “Dromod Boxty has benefited from the Aldi fast track payment scheme massively,” Faughnan said. “The quick turnaround has ensured while we are producing at a higher volume we are in a position to continue to do so. Cash Flow is so important right now for small businesses so schemes like this really make a huge difference.”

John Curtin, Aldi Ireland’s group buying director said the extension recognised the “huge challenge” past months had presented for many people and businesses.

“In recognition of these hardships, we are further extending the shorter payment terms we introduced at the beginning of the pandemic,” he said. “Supporting our Irish supply base is of the utmost importance, and we thank all our suppliers for their hard work over Covid-19 in keeping our shelves fully stocked.”

Demonstrating this, Aldi states that it has invested more than €3,000,000 in its Grow with Aldi supplier development programme since 2018, and is currently seeking producers to apply for its 2021 programme.

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