Loblaws offering free groceries as payback for bread price fixing
Loblaws is giving away free groceries after its parent companies admitted to participating in what they called an "industry-wide price-fixing arrangement involving certain packaged bread products."
What this means is that you probably spent more on bread than you should have between 2001 and 2015 – and not just at Loblaws.
The Competition Bureau has also reportedly searched the offices of Metro Inc., Sobeys Inc., Canada Bread and Walmart Canada as part of its ongoing investigation into the nearly 15-year-long suspected price-fixing conspiracy.
It turns out Loblaws was part of a price-fixing scheme? To inflate bread prices? For more than 14 years? So now everyone gets a $25 gift card? Is this real life? https://t.co/nnMQVkBlzk pic.twitter.com/bICNQEdQxN— CSI Toronto (@csiTO) December 20, 2017
In attempt to make amends, Loblaws is offering a $25 gift card that can be used at any of their grocery stores across Canada.
"This conduct should never have happened," Galen Weston said during a recent conference call. "The gift card is a direct acknowledgment of that to our customers. We hope that they'll see it as a meaningful amount that demonstrates our commitment to keeping their trust and confidence."
All you need to do to get a card is declare that you purchased certain bread products at an eligible Loblaws store before March of 2015, and that you're the age of majority in your province.
Loblaws expects three million to six million Canadians to redeem the offer, which will cost the company an estimated $75 million to $150 million.
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