Beleaguered Dutch retail giant Ahold has said that regulators in the US are investigating some suppliers of its US Foodservice subsidiary in relation to the US$1bn accounting scandal at the company.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
”Suppliers of US Foodservice are being investigated by the SEC and Department of Justice,” Ahold chairman Henny de Ruiter told shareholders, adding that not every supplier was being investigated but “a number” of them were.
Ahold, which is trying to regain shareholder confidence after the scandal, also said it was committed to recouping performance-related bonuses that were given to some former US Foodservice managers based on inflated figures, reported the New York Times.
The company posted a net loss of €62m (US$73.8m) for the first three quarters of 2003, compared to net income of €17m a year earlier. Net sales for the nine-month period fell 10.5% to €43.3bn, a rise of 3.3% when excluding the impact from foreign currency.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
