Updated: Jul 31, 2020
The privately owned German Discount Food Retail Chain NORMA is continuing its aid program for regional partners all over Germany and will for the time being waive the contractually agreed payment term and thereby pay its bills even faster due to the ongoing Corona crisis, as the company reports.
The Nuremberg company had already announced at the end of April - at the height of the pandemic - that it would be helping the small suppliers in this way financially.
To date, far more than $170 million have arrived where the money is most urgently needed - for small companies that often have a long-standing and close relationship with NORMA. Around 300 local suppliers in the different German regions already benefited directly from the move. In order to ensure that financial security is also guaranteed, the food retailer expanded its already close cooperation with the regional partners in addition to foregoing the payment target.
NORMA is active in Germany, France, Austria and Czech republic, with over 1,450 stores and a revenues of about $4.5 billion (2019).