The Australian Competition and Consumer Commission has approved Coles’ planned acquisition of chilled meals supplier Jewel, saying the sale was better for competition than the liquidation of Jewel’s assets.
Supermarket giant Coles may be hit with a class action after it was revealed on Tuesday that the company owes staff in its supermarket and liquor businesses at least $20 million in pay.
Coles underpaid salaried staff members in its supermarket and liquor businesses at least $20 million over the past six years, the company revealed in announcing its half-yearly results.
Coles has agreed to pay about $5.25 million to dairy co-operative Norco after an investigation by the Australian Competition and Consumer Commission found the supermarket giant failed to pass on the full price rise it charged consumers for Coles-branded fresh milk as it promised to do.
A claim by Coles for $40 million in tax credits for fuel that evaporates or leaks from the 3,000 tanks at its service stations — based on an argument that the company buys extra fuel to account for the loss — is “completely unreal”, a lawyer for the tax office told a court Monday.