71.82 F
June 20, 2024
PI Global Investments
Private Equity

Asda private equity owners finally grilled by MPs

Workers on Asda’s shop floor deserve answers

TDR Capital, who along with the Issa brothers bought Asda in February 2021, will give evidence to the Business and Trade select committee on Tuesday (9 January).

It follows evidence given by both GMB and Asda bosses at a committee session before Christmas, but TDR Capital, who co-own the supermarket giant, did not attend.

Nadine Houghton, GMB National Officer, said:

“It’s right that MPs will finally get the chance to hold TDR Capital to account on their co-ownership of Asda.

“Too often shadowy private equity bosses are able to dodge scrutiny and do their dealings behind closed doors.

“But workers on Asda’s shop floor deserve answers from private equity owners too, especially while Asda’s market share falls and debt levels remain worryingly high.

“Asda is part of our country’s national infrastructure. It is vitally important to get the full story from its bosses.”

Source link

Related posts

Higher rates have changed the game for private equity


Private equity and logistics firms eye up DB Schenker


Real Estate Private Equity Firm Gaw Capital Doubles Down On Japanese Data Centers


Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.