Empire Company Limited Supports Small Supplier Partners During COVID-19 Crisis
For over 113 years, Empire Company Limited ("Empire") has been proud to partner with local Canadian businesses of all sizes. Our own humble beginnings started with a local entrepreneur, his family, and the help of trusted supplier partners.
During this unprecedented time in the world, we know it's more important than ever to support our smaller supplier partners. These businesses have always been there for us, providing the goods and services we need to help us put food on Canadians' tables every day and especially through this terrible coronavirus crisis. Now, we want to be there for them and offer the support they need to continue operating their businesses.
Starting as of March 31, Empire will help our 13,000 smaller suppliers across Canada by shortening our usual payment terms, automatically paying all of our small suppliers within 14 days without exception. These businesses will be able to count on fast turnarounds and the assurance of payment in their bank accounts within these shortened timelines. This includes local farmers and fisheries, waste collection companies, repair and maintenance businesses, and many others.
In addition, Empire has contacted all of its small business tenants in its owned mall properties, such as food service providers, about taking advantage of a two-month rent deferral starting April 1 to help ease financial hardships due to COVID-19.
We want our valued supplier partners to know we are in this together. From our family to yours, we are committed to easing the anxiety of these uncertain times for you. We truly appreciate everything you are doing to help our front-line store teams provide essential support to our Canadian families, friends and neighbours, and we look forward to coming out of this challenging time together with you.
Empire Company Limited (TSX:EMP-A.TO) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire's key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc., and related real estate. With approximately $25.8 billion in annualized sales and $14.0 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 123,000 people.
SOURCE Empire Company Limited
View original content: http://www.newswire.ca/en/releases/archive/April2020/02/c0237.html
SOURCE: Empire Company Limited
Media Contact: Jacquelin Weatherbee, Vice President, Communications & Corporate Affairs, Sobeys Inc., (416) 200-0372; Investor Contact: Katie Brine, CPA, CA, CBV, CPIR, Director Finance, Investor Relations, Sobeys Inc., (905) 238-7124 ext. 2092