Asda to close stores on Boxing Day so staff can see family December 9, 2020 Asda will not open its stores on Boxing Day, instead choosing to give thousands of employees the chance to stay home with loved ones. The supermarket said the decision was made in recognition of employees’ efforts as key workers during the Covid-19 pandemic. All 631 of Asda’s stores will close for two days over the [...]
CMA launches probe into billionaire brothers’ takeover of Asda December 8, 2020 The UK’s competition regulator has launched its stage one probe into the billionaire Issa brothers’ takeover of supermarket Asda. Back in October the brothers, along with private equity group TDR Capital, agreed to buy the grocer from US giant Walmart for £6.8bn. At the time, Walmart said that it expected the deal to be subject [...]
Supermarket heavyweights the Co-op and Waitrose face mounting pressure to return business rates relief December 4, 2020 High street titans the Co-op Group and Waitrose are facing mounting pressure to follow their peers and hand back millions of pounds of business rates relief dished out to keep the companies afloat during the pandemic. The Co-op is facing growing disquiet from members after refusing to emulate rivals Tesco, Morrisons, Asda, Sainsbury’s and Aldi, [...]
Asda joins ranks of supermarkets set to return business rates relief December 3, 2020 Asda has joined the growing number of UK supermarkets to hand back business rates relief given by the government to help it through the coronavirus crisis. This afternoon the grocer confirmed that it would repay £340m in emergency support – the fifth supermarket to make such a pledge. Since Tesco first announced it would give [...]
Asda sales growth slows but grocer forecasts bumper online Christmas November 17, 2020 Asda’s sales growth slowed in the third quarter as lockdown restrictions lifted and hospitality businesses reopened, the supermarket announced this morning as it said customers are already stocking up for a “very different” Christmas this year. The grocer’s like-for-like sales excluding fuel were up 2.7 per cent in the three months ended 30 September, compared [...]
Brands’ battle for the eyeballs: watch all the Christmas ads here November 13, 2020 As some of the UK’s biggest brands have rolled out their seasonal ads, it’s starting to feel a lot more festive. The battle for the eyeballs started in earnest this morning as John Lewis launched its annual television advertisement, gaining over one million views within just two hours. However, Aldi’s ad so far tops the [...]
New Asda owning Issa brothers sell stake in petrol station giant EG Group November 13, 2020 New Asda owning Issa brothers sell stake in petrol station giant EG Group
Walmart selects billionaire brothers as preferred bidders for Asda September 28, 2020 US retail giant Walmart has selected a consortium led by the billionaire brothers behind petrol station chain EG Group with private equity firm TDR Capital as the preferred bidder to buy Asda. The deal would value the UK supermarket chain at more than £6.5bn, Sky News reported. The broadcaster said that Mohsin and Zuber Issa, [...]
Private equity firm Lone Star quits race to buy Asda September 22, 2020 US private equity firm Lone Star Funds has abandoned the bidding war over British supermarket giant Asda, leaving rival asset manager Apollo as its likely suitor. The two private equity firms entered a showdown for the UK’s third-biggest grocery chain last month, after US owner Walmart opened bidding for a majority stake in Asda. The [...]
Retail bosses square up in £6.5bn bidding war for Asda August 21, 2020 Two veteran UK retail bosses are set to go head-to-head in a dramatic £6.5bn private equity bidding war for supermarket chain Asda. Former Debenhams chief executive Rob Templeman is said to be working with Apollo Global Management, while Paul Mason, who served as Asda boss 20 years ago, has teamed up with Lone Star Funds. [...]