JSE-listed retail group Mr Price said on Thursday it had suspended two employees for an alleged breach of the company’s code of conduct. 

Allegations of non-compliance with the Mr Price code of conduct by two members of senior management and a single supplier have come to the attention of the Mr Price executive directors and the board, the company said.

The employees involved have been placed on precautionary suspension in accordance with Mr Price’s standard disciplinary processes, while an internal investigation is underway to ensure this matter is fairly and expediently resolved.

Mr Price said the allegations do not relate to any financial reporting irregularities, nor do they involve any executive or non-executive directors.

Chair Nigel Payne said in statement: “The group takes compliance with its code of conduct very seriously and considers this integral to its values.”