| Updated Thu, July 13th 2017 at 00:00 GMT +3If you walk into any supermarket today, you are unlikely to get the popular Tharaka Honey brand because the family-owned business that produced it closed shop four months ago. The firm’s woes, and several other SMEs’, are contained in a new report that highlights the domino effect of the current struggles by leading retailers on local businesses, especially small family-owned entities. The report, seen by The Standard, illustrates how retailers have been frustrating suppliers by delaying their payments eventually forcing them to shut down. The company further saw its profitability squeezed by the retailers, who demanded a 25 per cent margin on their asking price of products supplied to them. The report also accuses the retailers of issuing bouncing cheques and undervaluing their suppliers’ products.

Source: Standard Digital July 12, 2017 20:26 UTC