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 Tesco Try an Overpayment Scam ?

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PostPosted: Wed Nov 25, 2009 11:44 pm Reply with quoteBack to top

http://uk.news.yahoo.com/21/20091125/tuk-tesco-in-1m-cycles-payment-blunder-6323e80.html

Quote:
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.

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Mr Tambourine Man
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PostPosted: Thu Nov 26, 2009 10:38 am Reply with quoteBack to top

Quote:
Tesco claims it is holding on to more than £121,000

Every little helps!

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PostPosted: Thu Nov 26, 2009 12:56 pm Reply with quoteBack to top

Sounds like one of those accountants that vetted MP's expenses has found himself a nice new job .... Smile
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music man
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PostPosted: Thu Nov 26, 2009 8:43 pm Reply with quoteBack to top

Mike Ashley probably needs the money to buy his way back into the Premiership! ( not that I know anything about footie)

£121k- that'll buy a player for about a week at current rates!

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Vampiremerchant
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PostPosted: Thu Nov 26, 2009 10:30 pm Reply with quoteBack to top

Quote:
mistakenly paying almost £1 million for six bicycles


Now if it was a mistake whoever in Tesco authorised it must be crapping themselves (wonder where the buck will stop !)

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PostPosted: Fri Nov 27, 2009 12:08 am Reply with quoteBack to top

It'll be accounts payable in Cardiff they are a special bunch

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