Wednesday, November 25, 2009

Doofus Of The Day #294

Today's award goes to the person responsible for paying accounts at Tesco supermarkets in England (assuming they still work there, of course . . . ).

The supermarket chain should have paid Universal Cycles ... £984 [about US $1,644] for six Muddy Fox Suspension Bikes but paid £984,000 [about US $1.644 million] instead.

Universal, an Essex-based company majority-owned by Sports Direct, has paid back £863,000 [about US $1.442 million] but Tesco claims it is holding on to more than £121,000 [about US $202,142] in outstanding funds, sources said.

It has launched legal action at the High Court to recover the remaining money, legal costs and a further £1,783 [about US $2,979] - the sum the retailer claims it is owed in interest at 8 per cent a year.

There's more at the link.

Of course, the cycle company will have to repay the money, but I can't blame them for dragging their feet. Tesco, like many other large store chains, is notorious for delaying payment to its suppliers until the last possible moment, earning every cent of interest it can on its bank balance. With the boot on the other foot for a change, Universal Cycles must be laughing all the way to the bank!


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