Author Topic: Every Little Helps  (Read 692 times)

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Offline Mart

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Every Little Helps
« on: November 25, 2009, 07:06:24 PM »
Britain's biggest retailer is taking legal action after mistakenly paying almost £1 million for six bicycles which should have cost less than £1,000, sources said.

Tesco is seeking restitution of the overpaid monies following the error by its finance team.

The supermarket chain should have paid Universal Cycles, a subsidiary of Sports Direct which is controlled by Newcastle United owner Mike Ashley, £984 for six Muddy Fox Suspension Bikes but paid £984,000 instead.

Universal, an Essex-based company majority-owned by Sports Direct, has paid back £863,000 but Tesco claims it is holding on to more than £121,000 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 - the sum the retailer claims it is owed in interest at 8% a year.

The error was made on August 13 and Universal was asked to repay it 15 days later. Universal then repaid some of the funds on September 29, but £121,412 is outstanding, sources said.

It is understood a meeting will be held between the two parties in a bid to resolve the dispute out of court.

A Tesco spokesman declined to comment on the ongoing case.



Sometimes I think you have to march right in and demand your rights, even if you don’t know what your rights are, or who the person is you’re talking to. Then, on the way out, slam the door.