Funeral services provider Dignity stated on Wednesday, June 23, that it has canceled contracts with five of its partners following an assessment that showed they were not economical and failed to uphold the British company’s standards.
The company, which also laid out a new strategy days after fresh guidelines from the UK competition regulator on pricing, stated the cancelations will lower revenue at its funeral plan division by 35% for the current year.
The company pledged to ensure its organizational structure is more “open and dynamic” and also stated it would increase investment in standards of care, facilities and its estate, as well as competitive pricing.
It follows a lengthy probe into the funeral sector by the Competition and Markets Authority (CMA), which last December concluded that funerals were costing consumers too much and made a series of recommendations.
The watchdog ruled last week that funeral directors and crematorium operators must make prices clear for customers from mid September, or risk court action.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Shein Faces EU Regulations Over User Data
Apr 28, 2024 by
CPI
Google Fights Back Against US Antitrust Lawsuit
Apr 28, 2024 by
CPI
US Homeland Security Establishes Blue-Ribbon Board with Tech CEOs to Advise on AI
Apr 28, 2024 by
CPI
FTC Accuses Amazon Executives of Using Disappearing Messaging Apps to Conceal Evidence
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI