Cinch and Webuyanycar owner slashes loss despite used and electric cars woes October 8, 2024 The owner of Cinch and Webuyanycar slashed its loss almost in half despite suffering a sharp drop in the value of used cars in 2023. Constellation Automotive, whose brands also include Marshall Motor Group and BCA, has reported a pre-tax loss of £74.4m for the year to 31 March, 2024, down from the loss of [...]
Asda workers ‘owed over £2bn in back pay’ as 159 MPs write to bosses September 24, 2024 Retail workers at supermarket giant Asda are owed more than £2bn in back pay, according to the GMB Union. The claim comes as 159 MPs wrote to bosses at the Leeds-headquartered company calling for an end to “pay discrimination” of its supermarket workers. The politicians have also called on TDR Capital, which is about to [...]
Mohsin Issa to step away from Asda as search for CEO continues September 18, 2024 Supermarket giant Asda has announced that Mohsin Issa will step away from his executive leadership role to focus on his position as sole chief executive of petrol forecourts business, EG Group. Lord Stuart Rose will assume Mohsin’s responsibilities alongside TDR Capital partner Rob Hattrell, the Leeds-headquartered grocer said, while Mohsin Issa will remain a co-owner [...]
Who is Asda’s chair and why does he want Mohsin Issa to step away? August 12, 2024 Depending on your age and your attention span towards the in and outs of the UK retail scene, you may or may not have heard of Lord Stuart Rose. Knighted in 2008 for his services to the retail industry, he has spent twenty years running some of the biggest names in UK retail: Argos, Marks [...]
Inside Asda’s turnaround plan to win back customers from supermarket rivals August 9, 2024 It’s a difficult time to be at Asda’s helm – with sales down as well as competitors eating into its market share, the supermarket giant has announced an ambitious three-point turnaround plan to stave off further declines. Without a permanent CEO – the position has been empty since 2021 and filled on an interim basis [...]
‘It’s not where we want to be’: Asda sales shrink as supermarket rivals eat into market share August 8, 2024 Asda’s sales have dropped again after it continued to lose market share to its supermarket rivals, according to new figures. Revenue in its second quarter of its financial year was down 2.2 per cent, with a 5.3 per cent like-for-like decline, as its sales slump accelerated. Competitors like Morrison’s, Tesco and Sainsbury’s have been slowly [...]
Problems at Asda look set to continue as workers strike again July 24, 2024 This week, Asda workers - with the support of GMB union - announced the latest strike action in a months-long string of collective action and demonstrations.
TDR Capital seeks £2.5bn-plus sale of training business BPP June 30, 2024 British private equity giant TDR Capital is reportedly planning a £2.5bn-plus sale of professional training course business BPP.
David Lloyd’s quest to ‘premiumise’ clubs gets members back on the treadmill June 19, 2024 Fitness chain David Lloyd Clubs has seen its members return to its gyms in droves after it decked them out with luxury spas, outdoor dining areas and "premium" co-working spaces.
Asda has been ‘left behind’ by Tesco and Sainsbury’s since Issa brothers’ takeover June 11, 2024 How has Asda performed compared to Tesco, Sainsbury's and Aldi since being taken over by the billionaire Issa brothers and TDR Capital?