Ocado drops legal battle with M&S over £190m performance payout
UKPulse Money Desk
Ocado has ended its legal dispute with M&S regarding a £190 million performance payment. The payment was not made after Ocado Retail reportedly failed to meet its targets.
- Ocado has dropped its legal battle with M&S.
- The dispute concerned a £190 million performance payout.
- The payment was not made as Ocado Retail reportedly did not meet targets.
Ocado has dropped its legal challenge against M&S concerning a disputed £190 million performance payout. The payment, linked to targets set for Ocado Retail, a 50:50 online grocery joint venture between Ocado and M&S, will not be made.
Reports indicate that Ocado Retail did not meet the necessary performance targets, leading to M&S withholding the final payment.