Ocado threatens M&S with legal action over joint venture payment

Ocado has threatened legal action against Marks and Spencer as the two retailers clash over a final payment tied to their online joint venture. While the venture failed to meet the targets last year, Ocado has said the criteria for M&S to make the final payment should be revised to take into account "Several significant decisions and actions taken by Ocado Retail management", largely during the coronavirus pandemic. Ocado raised the prospect of taking legal action for the first time on Thursday, as the group reported an annual pre-tax loss of £394mn. In its results, Ocado said it ultimately intended to receive a payment either "Via a formal litigation process or settlement". In a statement, M&S said: "On the specific issue of the contractual contingency payment, our advice is that the financial performance of Ocado Retail means the criteria for the performance payment was not met."

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