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June 20, 2024
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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.”



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