EY quits as Asda’s auditor amid criticism of Issa brothers RETAIL Big Four accountant EY quit as Asda's auditor last summer in another blow to co-owners Moshin and Zuber Issa.
Asda slashes debt as value range sales surge Asda Asda has reduced its debt pile from £4.2bn to £3.9bn, according to its third quarter results, thanks to “strong cash generation” at the UK supermarket. The ‘Big Four’ grocer, said that during the term like-for-like sales, excluding fuel, increased by 2.8 per cent to £5.4bn compared to the same period last year. Food like-for-like sales [...]
Asda IT glitch leaves some employees missing two weeks of pay Retail Close to 10,000 Asda employees have received incorrect payslips following an IT glitch.
Asda: Issa brother to step back and hire new chief executive March 1, 2024 Mohsin Issa, one half of the billionaire family duo which owns Asda, has confirmed he is stepping back from the day to day running of the business.
Butcher saved by former Asda boss resumes trade May 8, 2023 Farmison & Co will once again begin selling its upmarket meats this week as a consortium led by the former chief of Asda look to bring the embattled brand back to life, following its collapse and subsequent rescue deal last month. The luxury butcher, which trades to the likes of Harrods and Fortnum & Mason, [...]
CMA probes Asda’s £611m Co-op petrol station takeover deal over fears it could hike fuel prices March 14, 2023 Asda’s £611m takeover over of 132 Co-op petrol stations has come under scrutiny from the UK’s competition watchdog over concerns the deal was likely to push up fuel prices. After the supermarket snapped up the sites last October the Competition and Markets Authority (CMA) launched a Phase 1 investigation at the start of this year [...]
CMA hits out at Asda and Sainsbury’s for restricting competition June 13, 2023 Asda and Sainsbury’s broke anti-competition rules a combined total of 32 times between 2011 and 2019, the competition watchdog said this morning. The Competition and Markets Authority (CMA) said the ‘Big Four’ supermarkets broke the Groceries Market Investigation (Controlled Land) Order 2010, which was brought in to stop supermarkets imposing new restrictions that stop rivals [...]
Zuber Issa exploring £500m sale of Asda stake in split with brother February 4, 2024 One of the billionaire Issa brothers, who together co-own Asda alongside a private equity firm, is reportedly trying to offload his stake in the supermarket as it grapples with a mounting debt pile.
CMA greenwashing probe: Asda, Asos and Boohoo promise clarity on eco-claims March 27, 2024 Top fashion retailers Asos, Boohoo and George at Asda, have signed undertakings to clarify the way they promote and display their environmental credentials, the competition watchdog has said.
Asda private equity owners grilled by MPs as supermarket braces for historic strikes January 9, 2024 Asda’s private equity owners, TDR Capital, have refuted claims the firm is anti-trade union, as the supermarket braces for historic strike action.