Nisa cuts staff bonuses despite return to profit in build-up to potential Sainsbury's takeover

 
Alys Key
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Nisa saw a return to profit in its latest results (Source: public domain)

Convenience chain Nisa has told its head office staff that they will not receive a bonus this year, despite returning to profit in its latest annual results.

At Nisa's Scunthorpe headquarters, 280 staff were told there would be no bonus payment. The Guardian reported that the move has dented morale among the workforce, who last year received a share of a £2.2m bonus pot.

Read more: Nisa refinances debt as tensions over Sainsbury's sale loom

Nisa CEO Nick Read has led a turnaround plan to deliver profit of £2.8m for the year to April 2017, compared to a loss of £5.4m in the same period last year.

The member-owned grocer is currently involved in a sale process, with Sainsbury's selected as the preferred bidder because it offers more cash up front to its shopkeeper members.

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