Morrisons slapped with ‘speculative’ rating after takeover leaves chain saddled with debt April 12, 2022 Morrisons has been slapped with a ‘speculative’ rating by a top credit agency after the private equity takeover of the chain last year left it saddled with debt.
CD&R offers to sell petrol stations so watchdog will green light £7bn Morrisons takeover April 7, 2022 Morrisons’ new private equity owner has suggested it would sell an undisclosed number of petrol stations in order to be approved by the UK’s competition watchdog. The competition watchdog had previously expressed concerns as Clayton, Dubilier & Rice (CD&R) also owns petrol station titan Motor Fuel Group (MFG). The Competition and Markets Authority (CMA) said [...]
Morrisons’ new owners green light plans to sell £500m worth of property April 5, 2022 Morrisons’ new owners have rubber stamped plans to sell a £500m property portfolio including manufacturing and distribution facilities. According to Sky News, the supermarket is preparing to appoint advisers to oversee the disposal of certain sites across the country. It comes just months after New York’s Clayton Dubilier & Rice (CD&R) took over the grocer [...]
Double-digit footfall boost for London and South East as shops fear cost of living crunch will deter customers April 5, 2022 Retail footfall saw a double-digit boost last month in London and the South East, thanks to a bout of sunshine. London and the south East saw a 11.3 per cent rise in footfall to retail destinations in March. This represented footfall down 22 per cent on pre-pandemic levels. Across the UK, footfall was up 9.9 [...]
Egg farmers: Supermarkets must raise prices by 40p to avert sector crisis March 31, 2022 Egg farmers have called on supermarkets to up the price of a dozen eggs by 40p as producers face cost pressures. Many free range egg farmers are bleeding cash on every egg laid by one of their hens, according to the British Free Range Egg Producers Association (BFREPA). Shoppers in the UK were unable to [...]
Hostelworld: Revenue recovers as travel restrictions scrapped as online agent posts €17.3m loss March 31, 2022 Hostelworld has marked a “challenging year” as the online travel agent has slowly seen bookings rebound with the easing of travel rules. Hostelworld marked a net revenue of €16.9m for the year to 31 December, an increase of 10 per cent year on year. The Dublin-based company said its full year net bookings totalled 1.5m, [...]
Babcock to sell emergency aviation division as part of disposal programme March 29, 2022 UK Government contractor Babcock is reportedly in talks to sell its emergency aviation services as part of its disposal programme. The group is expected to sell the division to infrastructure investment manager Ancala Partners for around £100m, Sky News broke the news today. The UK Air Ambulance fleet is part of Babcock’s division but it [...]
City A.M. Awards 2022: Dealmaker of the Year March 29, 2022 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
McColl’s boss steps down after six years at the helm amid rescue talks March 24, 2022 The chief of beleaguered convenience store chain McColl’s has quit as the business faces an existential crisis. The chain has been in talks with lenders over emergency cash, as it hopes to find a buyer to secure its future. After three decades with the chain and six years in leadership, Jonathan Miller has quit the [...]
Watchdog says Morrisons takeover could lead to higher fuel prices in more than 100 locations March 24, 2022 The competition watchdog has said Morrisons’ blockbuster private equity takeover could lead to higher fuel prices. Clayton, Dubilier & Rice (CD&R)’s £7bn takeover of the supermarket could lead to higher fuel prices in 121 locations where both firms own forecourts, the regulator said. The Competition and Markets Authority (CMA) said it has concerns about the [...]