Asda

Asda Raises £155m To Help Pay Down Debt

Struggling British supermarket group Asda has raised an additional loan of £155 million to help it pay back debt due in the next two years.

Stuart Rose, executive chairman of British retailer Asda, has stepped down from his role and will be replaced by veteran Allan Leighton.

Prices in British shops fell less sharply this month, according to a survey by the British Retail Consortium, released on Tuesday.

UK shoppers face renewed pressure on their budgets in October as inflation edged higher for the second month in a row, according to Kantar.

Sainsbury’s has extended its Aldi price-matching scheme to its convenience stores, upping the ante on competitive pricing ahead of Christmas.

British shoppers faced increased pressure on their budgets last month as grocery inflation edge higher, data from Kantar showed on Tuesday.

Asda said its chairman Stuart Rose will take executive responsibilities of co-owner Mohsin Issa as he steps back from his leadership role.

UK grocery inflation edged lower this month, data from Kantar showed on Tuesday, after rising for the first time in 18 months a month prior.

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