Concerns have emerged that Morrisons may face heavy costs after it's been taken over by private equity. The lead bidder will conduct a review of the property portfolio, raising the spectre of sale/leaseback deals.
One of the the ‘Big Four’ UK supermarket chains, Morrisons, has received an unsolicited bid approach valuing it at £5.5bn. But it has rejected the offer, despite it being above its closing share price as of Friday.
Marks & Spencer food boss Stuart Machin is understood to be a front-runner to take up the vacant chief executive post at supermarket giant Asda, following the announced departure of Roger Burnley last week.
Some of Britain's biggest retailers including Tesco and bookstore Waterstones have urged the government to permanently cut business rates if it wants physical stores to survive in the age of mass online shopping.