The UK retailer said that it has undertaken concrete changes to improve its systems and governance processes, including a root and branch review of all supplier dealings, as well as a review of depot processes.
The Co-op said that it is cooperating with the GCA, ensuring refund payments to those wrongly charged for benchmarking and quality control.
Jo Whitfield, food chief executive officer of Co-op, said, "We are sorry.
“We were focussed on rescuing the Co-op and doing right by consumers but we should have also given more thought to the potential impact those planned changes would have on our suppliers."
The retailer has also launched a retraining programme for over 1,000 colleagues in order to get up to speed with the requirements of the Code.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Alessandra Arosio. Click subscribe to sign up to ESM: European Supermarket Magazine.