Asda chair calls for business tax relief amid historic inflation levels June 19, 2022 Retail grandee Stuart Rose has said the government was too slow to move on the cost of living crisis and historic levels of inflation. The Asda chair and former Marks & Spencer boss has urged ministers to help struggling households amid the “tough times.” Speaking on Aquis Exchange’s Full & Frank podcast, Rose said Asda [...]
Morrisons ups offer to bail out McColls in bid to claw chain back from Asda owning rivals May 8, 2022 Morrisons has put forward a last-minute offer to bail out McColls in a bid to claw it out the hands of its Asda owning rivals. Bradford headquartered supermarket chain Morrisons has improved its offer to buy McColls by vowing to pay its lenders immediately in full, Sky News first reported today. The improved offer comes [...]
Thousands of Asda warehouse workers back strike action over pay dispute May 5, 2022 Asda workers have voted in favour of strike action in a consultative ballot, with the GMB union saying staff were being “asked to swallow a real terms pay cut.” In a ballot of 8,000 GMB members, covering driver, warehouse and clerical roles, some 95 per cent indicated they were in support of industrial action. Staff have [...]
Issa brothers mull petrol empire sale as Asda owners eye Boots bid May 2, 2022 The billionaire brothers behind the blockbuster Asda takeover are reportedly in talks to sell their petrol forecourt business for some £12.bn. Zuber and Mohsin Issa are thought to be considering a proposal for Boots, with the high street chemist’s US owners hoping for a £7bn price tag. A sale of EG Group would unlock billions [...]
Households face extra £271 on annual food bill as grocery inflation highest since 2011 April 26, 2022 Households are facing an additional £271 to their grocery bill, with price inflation now standing at the highest level in over a decade. According to fresh data from Kantar, grocery price inflation has reached 5.9 per cent, the highest level since December 2011. Brits are facing a slew of price increases this spring, as businesses [...]
Price war: Asda and Morrisons slash prices as supermarkets battle to woo shoppers April 25, 2022 Supermarkets are vying to win shoppers hunting for cheaper deals, as Asda and Morrisons become the latest to announce price cuts. Asda, owned by the billionaire Issa brothers, has said it will inject more than £73m into ensuring the prices of more than 100 essential items are low, until the end of the year. Meanwhile, [...]
EG Group to create 22.7k UK jobs by 2026 as Issa brothers’ food service arm swells April 21, 2022 Petrol forecourt operator EG Group has said it will create some 22,700 jobs in the UK in the next four years. The billionaire Issa brothers’ company has said it will provide some 32,000 jobs across the world over the next few years, thanks to investment in its foodservice arm. Jobs will be created across EG’s [...]
Asda buyer TDR Capital marks 20-fold return on supermarket takeover with £1.4bn stake April 19, 2022 One of Asda’s owners has valued its stake in the supermarket at almost 20 times the sum it paid in a blockbuster takeover last year. According to The Financial Times, private equity firm TDR Capital informed investors it has placed its stake at 19.8 times the orginial investment in the grocer. The US firm, alongside [...]
Asda launches new and larger value range and kills off Smart Price in race to kickstart stalling growth March 29, 2022 Supermarket giant Asda, which was bought by the Issa brothers and backers TDR Capital last year, said this afternoon it will axe its Smart Price range and replace it with new Just Essentials by Asda products. In fact, Asda is launching a new and larger value range, amid the cost of living crisis, as the [...]
Firm behind loyalty schemes for Pret A Manger, Asda and Pizza Express recovers from pandemic March 16, 2022 The marketing firm behind loyalty schemes for brands such as Asda, Pret A Manger and Pizza Express is back in the black after a small pandemic loss. Eagle Eye Solutions, which manages schemes for major chains through coupons,, subscriptions and gift services, announced its half-year figures up to January, with £600,000 in profit, after a [...]