30 million euros in fines in total against Renault, Ikea or ArcelorMittal

30 million euros in fines in total against Renault, Ikea or ArcelorMittal
30 million euros in fines in total against Renault, Ikea or ArcelorMittal

The Fraud Repression Agency (DGCCRF), which ensures compliance with the rules regarding payment of company suppliers, announced on Friday that it had initiated, from January to the end of May, 138 sanction procedures against companies, for a total of nearly of 30 million euros in fines and pre-fines.

The car manufacturer Renault was fined 2 million euros, Ikea 1.86 million euros, Arcelor Mittal 1.5 million euros, Eurodisney 1.3 million euros and the bank HSBC Continental Europe of 1.27 million, following checks “mainly carried out in 2023”indicates the General Directorate for Competition, Consumer Affairs and Fraud Control (DGCCRF) in a press release.

Late payments “are detrimental to the competitiveness and profitability of businesses” service providers for client companies, “by weakening their cash flow”, explains Fraud Repression, which checked the payment deadlines of 248 companies, including 4 public ones, and noted anomalies in nearly 28% of cases. In total, 138 sanction procedures were therefore initiated, “including more than 14 million euros in fines and nearly 15.6 million euros in pre-fines”indicates this service dependent on the Ministry of the Economy.

Fraud Repression cites a payment deadline observatory which indicated in mid-June that it had noted a drop in inter-company payment deadlines in 2022 for companies of all sizes. However, large companies pay “mostly their suppliers are late”at 55%, “despite significant financial capabilities”. “In addition, payment delays tended to lengthen in 2023, reaching 12.6 days late in the 4th quarter of 2023 compared to 11.7 a year earlier”specifies the DGCCRF.

Read alsoJysk, this discreet Danish brand which wants to open “500 furniture stores” in France and compete with Ikea

The Minister for Business, Olivia Grégoire, said in March that she wanted to strengthen sanctions against bad payers, regretting that“a late payment on a large invoice can jeopardize a business”. According to her, “the amount of this cash in nature amounts to 15 billion euros, it’s colossal”. Payment terms are sixty days as a general rule and thirty days for road transport costs.

-

-

PREV Yaël Braun-Pivet’s re-election to the presidency and the “shocking” attitude of the New Popular Front: Loiret MPs react
NEXT Belgium, legislative elections, mask… what to remember from Kylian Mbappé’s press conference before the round of 16