The UK supermarket Asda faces challenges as its co-owners are warned about potential payroll issues and seek to refinance a £2.6bn debt burden. Despite profit topping £1bn, reports suggest one of the Issa brothers may exit the business. Asda's finance chief denies sale talks amid ownership shake-up, while an executive anticipates slower price rises. The retailer pledges to reduce its £3.8bn debt pile and highlights improved relations with suppliers.
🇬🇧 Sun shines on high street stalwarts with shopping spree forecast https://t.co/Vn9sHbjlGE
🇬🇧 Relations with suppliers at ‘all-time high’ says Asda owner Mohsin Issa https://t.co/gEXxyMS7hG
Primark Owner AB Foods Profit Rises on Easing Costs https://t.co/5pQMGZleqn
🇬🇧 Struggling Asda promises to cut £3.8bn debt pile https://t.co/bVoX5fID6Q
Associated British Foods raises its outlook as shoppers head to budget fashion chain Primark and inflationary pressures in its food division ease https://t.co/xITMkXJxkO
🇬🇧 Asda executive expects price rises to slow https://t.co/KnxfH112vV
🇬🇧 Asda seeks to raise £2.6bn to refinance debt burden https://t.co/7qjJenBy9n
🇬🇧 Asda finance chief dismisses talk of sale amid ownership shake-up https://t.co/VRr6ApYlji
Asda seeks to raise £2.6bn to refinance debt burden https://t.co/Yu7TIdrRXt
Watch Business Live with @IanKingSky... 👇 🔹The FTSE-100 knocking on the door of a record closing high 🔹 UK's third largest supermarket - Asda - reports a slowdown in sales growth, but a big rise in underlying profits https://t.co/L2J4921zVt
Profits at the UK's third-biggest supermarket chain grew 24% in 2023, topping more than £1bn in a year where households struggled with the cost of living https://t.co/sZK0j7byUf
UK supermarket Asda profit tops 1 bln stg despite market share loss https://t.co/mLuVp5vYbg https://t.co/7ukQRQBzVM
The boss of Asda insists its owners are still ‘in it for the long-haul’ despite reports that one of the billionaire Issa brothers is seeking to exit the business https://t.co/62ANiccTFo
🇬🇧 Asda co-owners knew IT switch would spark payroll errors https://t.co/0AvOzaGeS0
🇬🇧 Asda bosses warned payroll switch could cause problems, report claims https://t.co/UsDnce1A2t
🇬🇧 The Body Shop: Owner Aurelius’ failure to refinance loan triggered retailer’s collapse https://t.co/etqPyoFJHH