Morrisons one step closer to watchdog green light for McColl’s takeover October 10, 2022 The competition watchdog has said it is minded to accept proposals from Morrisons that would alleviate any concerns over higher prices for consumers amid its takeover of McColl’s. The Competition and Markets Authority (CMA) had raised competition concerns regarding a small number of areas amid the supermarket’s £190m takeover of the beleaguered convenience store chain. [...]
Competition concerns: Morrisons’ takeover of McColl’s probed by CMA May 30, 2022 The competition watchdog is probing Morrisons’ takeover of beleaguered newsagent operator McColl’s, it has been confirmed. The Competitions and Markets Authority (CMA) said on Monday it had launched an inquiry to investigate whether the takeover will impact competition in the UK, with an initial enforcement order. The two businesses will be instructed to compete as [...]
RAC: Tesco, Asda, Sainsbury’s and Morrisons are ripping off motorists – but which Big 4 retailer has the cheapest petrol? April 5, 2023 Motoring group RAC today accused Britain’s big four supermarkets of overcharging drivers at the petrol pumps.
Morrisons rescue deal for McColl’s totalled £182m May 18, 2022 Grocer Morrisons coughed up some £182m to snap up beleaguered convenience store operator McColl’s, defeating a rival bid from Asda owners the Issa brothers. The newsagent chain’s equity value was worth around £3m earlier this month while senior creditors were owed some £160m, documents from administrators PwC revealed. While the Issa’s EG Group had offered [...]
Ex-Morrisons boss appointed CEO of food manufacturer Greencore May 13, 2022 London-listed convenience foods manufacturer Greencore has appointed a a former Morrisons boss as its new chief executive officer. Philips headed grocer Morrisons, now owned by US private equity firm Clayton, Dubilier and Rice (CD&R) between 2010 and 2015. Dalton Philips will join as CEO and executive director on 26 September, stepping into the shoes of [...]
Competition watchdog CMA launches probe into Morrisons takeover of McColl’s July 13, 2022 The CMA, the UK’s competition watchdog, confirmed this morning the launch of a ‘phase one’ investigation into Morrisons’ takeover of McColl’s. Bradford-based supermarket chain Morrisons snapped up McColl’s in a £190m rescue deal in May after the convenience chain collapsed into administration in light of soaring costs due to supply chain disruption, inflation and its [...]
Australian PM Anthony Albanese says Scott Morrison ‘trashed democracy’ in cabinet scandal August 16, 2022 Former Australian Prime Minister Scott Morrison was guilty of an “unprecedented trashing of our democracy” when he secretly appointed himself to five ministerial roles, according to current PM Anthony Albanese. Albanese said Morrison, who lost this year’s General Election, “deliberately undermined the checks and balances that are so important and essential for our democracy” and [...]
Sales at Morrisons drop as supermarket boss cites ‘very fragile’ trading environment June 29, 2022 Supermarket Morrisons has seen sales drop by 6.4 per cent in the second quarter of the year, blaming a “very fragile and difficult consumer environment.” In a trading update for the 13 weeks ending 1 May, the grocer said it had experienced a “very challenging” trading environment with cash-strapped Brits tightening their belts as inflation [...]
Morrisons confirms McColl’s rescue deal with thousands of jobs saved May 9, 2022 Morrisons has confirmed it will save McColl’s from collapse, after an agreement with its administrator. Thousands of jobs were left hanging in the balance as McColl’s teetered on the brink of collapse last week. However, now grocer Morrisons has confirmed it will snap up the convenience store operator through a pre-pack administration. The Clayton, Dubilier [...]
Queen’s funeral: Drivers warned as Sainsbury’s, Tesco, Asda and Morrisons to shut forecourt petrol stations September 15, 2022 Drivers have been warned not to get caught out after supermarkets including Sainsbury’s, Tesco, Asda and Morrisons said they are closing their forecourt petrol stations on Monday for the Queen’s funeral. The retailers made the announcement today as many companies, including even Heathrow, curtail usual operations out of respect for the late monarch. “All Sainsbury’s [...]