Waitrose owed £4m after failed deal to treble its online business

Waitrose has been left £4 million out of pocket through its brief tie-up with Today Development Partners
// Waitrose has been left £4 million out of pocket through its brief tie-up with Today Development Partners
// The supermarket’s deal was supposed to help treble the size of its online business over three years

Waitrose has been left with a £4m hole after a brief four-month tie-up with an insolvent venture set up by one of Ocado‘s founders.

According to a report in The Times, Waitrose is the second-largest trade creditor of online grocery business Today Development Partners, which collapsed last month.

This was laid out in a progress report by administrators at Interpath, with Today Development Partners’ remaining assets sold to Ocado in a £326,00 deal.


READ MORE: 


Waitrose signed a deal with the AI platform as it eyed expanding its digital offering.

While the deal was supposed to help treble the size of its online business over three years, just four months into the deal the supermarket ended the agreement, citing “business reasons,” in 2019.

“We have recently decided not to continue with that relationship and will instead pursue our online ambitions utilising existing expertise across the partnership,” said Waitrose at the time.

Click here to sign up to Retail Gazette‘s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here