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UK: King’s Lynn firm fined £2.2 million for price fixing

By  |  May 26, 2016

A company has been fined more than £2.2 million after admitting breaches of competition law within its Lynn operations.

The penalty has been imposed by the Competition and Markets Authority (in relation to price fixing practices adopted by Foster Refrigerator, based on Oldmedow Road.

The case relates to online sales of commercial fridges between 2012 and 2014.

During that period, Foster adopted a “minimum advertised price” policy and threatened to increase charges to retailers, or halt supply altogether if they did not comply. The practice is known as retail price maintenance, which prevents stockists from setting their own prices.

Formal allegations, which have now been admitted by the firm, were formally presented to them in January and details of the penalty were announced this week.

Full Content: Lynn News

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