Latest news with #AllanLeighton
Yahoo
7 days ago
- Business
- Yahoo
Asda closes in on £400m property deal with investment giant Blue Owl
Asda is in talks about a £400m deal to offload some of its supermarket real estate assets to a giant investment house as it looks to plough more funding into its turnaround plans. Sky News has learnt that Blue Owl Capital, the New York-listed asset management group, has emerged as the frontrunner to buy roughly 20 Asda stores and lease them back to the Leeds-based retailer. A deal could be formally agreed within weeks, according to people close to the situation. Money latest: Last year, TDR acquired Zuber Issa's stake in the chain, and now owns 67.5% of its shares. Allan Leighton's plans include competing more aggressively with mainstream and discount rivals on price, improving availability and streamlining costs more effectively. The company has undertaken sale-and-leaseback deals on previous occasions, notably in 2023 when it struck a £650m deal with US-based Realty Inc. An Asda spokesman declined to comment on the talks with Blue Owl Capital but said: "Sale-and-leaseback [transactions] have been a feature of the retail industry for many years. "While maintaining a strong freehold base remains central to Asda's property strategy, we will consider suitable opportunities to unlock value from our property portfolio as part of our material programme of investment into the business." Eastdil, the real estate investment bank which was appointed to run the process several months ago, and Blue Owl have been contacted for comment.
Scottish Sun
17-07-2025
- Business
- Scottish Sun
Scots drivers could win free fuel for a whole YEAR with golden ticket
The supermarket giant's offer starts tomorrow and will run until August 25 FUEL'S GOLD Scots drivers could win free fuel for a whole YEAR with golden ticket Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) DRIVERS across Scotland could scoop free fuel for a whole year. Asda is giving away dozens of golden tickets and customers are in with the chance of winning £1,500 worth of petrol or diesel. Sign up for Scottish Sun newsletter Sign up 1 Asda is giving away dozens of golden tickets for a year's worth of fuel Credit: PA The supermarket giant's offer starts tomorrow and will run until August 25. A total of 40 golden tickets will be hidden amongst in-store products. The fuel tickets are valid for 12 months and can be used at Asda's filling stations, except Express sites. Secret staff will drop by stores between now and the end of the August bank holiday weekend. They will discreetly hide the tickets in store and await the lucky winners. The offer is part of Asda's year-long celebrations to mark its 60th birthday. Allan Leighton, executive chairman at Asda, said: 'Asda has always been about delivering great value to our customers, and our 60th birthday is the perfect moment to celebrate that legacy. "The Golden Ticket giveaway is a fun and exciting way to say thank you to our shoppers for their loyalty over the year - and to give something back in a way that really makes a difference.' So, next time you're doing your weekly shop, keep your eyes peeled, as you could be one of the lucky winners driving away with a fuel card worth £1500.' Other anniversary deals include kids eat for 60p at Asda cafes, Asda rewards giveaways and limited edition birthday beer. Major card chain with 163 shops launches closing down sales ahead of shutting its doors for good Asda will also surprise 20 different community groups across the UK with a golden ticket worth £1,500 to help with transportation costs. The fuel golden tickets offer follows Asda's recent 60p per litre flashback event in Halifax on July 16, where the first 60 drivers to visit the site of Asda's first ever filling station were gifted 1990s prices.
Daily Record
17-07-2025
- Business
- Daily Record
Asda shoppers can win 'free fuel' for 12 months by finding 'hidden' tickets
The supermarket giant is giving away a year's worth of free fuel to 40 lucky shoppers Asda is celebrating its 60th anniversary by encouraging shoppers to hunt for 40 tickets. The exclusive offer will see lucky winners win free fuel worth £1,500. Starting from tomorrow, Friday, 18 July and running until Monday, August 25, the supermarket chain will be hiding 40 golden tickets in amongst some of the products on its shelves in some of its largest stores across the UK. Lucky customers who manage to find one of these tickets will be able to get the chance to save money at the petrol pumps, as they will be able to fill up for free at one of the grocer's forecourts for 12 months, although this excludes Express site, reports Birmingham Live. Discreetly hidden by undercover Asda employees, the tickets will lie in wait throughout stores until the end of the August bank holiday weekend, as part of a remarkable contest. The exclusive petrol giveaway marks the 'Big Four' supermarket giant's 60th anniversary, as it opened up its first ever UK store in Castleford, West Yorkshire, in 1965. To commemorate the landmark occasion, Asda has been throwing a series of festivities, with one offer allowing Rewards members the chance to win £6,000 worth of points in their 'cashpot' through its 'Scan to Win' offer that was available earlier this year. Other celebrations to save customers money included discounted meals at Asda Cafés and even releasing a commemorative birthday beer. This spirited freebie follows on the heels of Asda's nostalgic fuel event on the 16th July in Halifax, where they rewound the clock with 60p per litre fuel for the first 60 motorists – emulating prices from the 90s. Allan Leighton, Asda's Executive Chairman, reflected on the supermarket's ethos: "Asda has always been about delivering great value to our customers, and our 60th birthday is the perfect moment to celebrate that legacy. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. "The Golden Ticket giveaway is a fun and exciting way to say thank you to our shoppers for their loyalty over the years-and to give something back in a way that really makes a difference. "So, next time you're doing your weekly shop, keep your eyes peeled, as you could be one of the lucky winners driving away with a fuel card worth £1500." To further honour its communities, Asda will surprise 20 various community groups with a golden ticket valued at £1500, alleviating some of their transport costs. News of Asda's upcoming petrol giveaway comes just after it was named the UK's cheapest supermarket in the prestigious 'Grocer Gold' awards ceremony, reclaiming its title from Tesco after loyalty prices were included in the survey. In the Grocer '33' Award this year, the supermarket managed to beat out all of its competitors on both base and loyalty prices, by consistently offering the lowest prices on a basket of 33 everyday items. According to the 'Big Four' chain, its coveted win came after its renewed focus on everyday value through its money-saving initiatives that include Asda Price and the return of its iconic 'Rollback' scheme. Asda shoppers can hunt for 40 golden tickets to win 'free fuel' for a year starting from July 18 to August 25.
Yahoo
10-07-2025
- Business
- Yahoo
Asda axes store managers in turnaround push
Asda is axing a key layer of middle management across its sprawling estate as chairman Allan Leighton steps up efforts to revive the supermarket. The retail giant announced an internal shake-up on Wednesday that will make a number of in-store managers redundant to 'take out complexity' from the business. Asda said it was combining its 'section managers' and 'trading managers' roles into a single 'manager' post, leading to the exit of some staff because of the duplication of roles. Section managers are a layer of in-store middle management who supervise team leaders and teams of shelf stackers. Trading managers are more senior and have responsibility for 'driving sales and standards'. The shake-up will collapse the two roles into a single job. This means around 20pc of store management will effectively be promoted to the new combined 'manager' role. But it will also mean some managers across its 700 larger supermarkets are no longer needed. Some are being asked to move to different nearby stores. Asda declined to comment on how many people were being made redundant. However, workers in its larger supermarkets reported being handed brown envelopes on Wednesday, saying they had been placed on gardening leave. Some claimed the number of people in management roles was being halved in their stores. However, the changes are understood to be different for each large supermarket, meaning some stores will have no redundancies. The shake-up does not affect Asda Express stores. A spokesman for Asda said: 'The investment in this new structure brings decision making closer to the shop floor and our customers by clarifying roles and providing clearer accountabilities. 'We will be offering our full support to other colleagues impacted by the changes.' It is the latest round of job cuts at Asda since Mr Leighton rejoined as its chairman in November. In March, Asda sacked more than 200 employees who had been involved in its botched £800m IT upgrade. That same month, it cut bonuses for thousands of managers, telling workers they would not be rewarded with payouts because of the retailer's faltering performance. In January, it also cut 13 regional managers as part of an internal restructuring. The latest move to sack middle managers echoes similar decisions by supermarket rivals. Earlier this year, Sainsbury's said it was planning to cut more than 3,000 posts, including a 20pc reduction of senior management roles. At Asda, Mr Leighton has argued he wants to prioritise investment in stores and lower prices to help the supermarket win back shoppers. Mr Leighton has said the plans will result in a 'material reduction' in profitability at Asda. It was seen as firing the starting gun on a price war among grocers, with Tesco and Sainsbury's racing to counter recent reductions. It follows years of declines at Asda. The most recent figures from Kantar showed its market share slipped from 12.5pc to 11.9pc in the year to the middle of June. Over the weekend, The Telegraph revealed the supermarket chain was piling pressure on suppliers including Heinz, Nestle and General Mills to help it cut prices within its stores. At the time, an Asda spokesman said: 'The material investment we are making this year to lower prices has already made a difference by opening up a 3pc-6pc price gap over other traditional full-service supermarkets.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Telegraph
10-07-2025
- Business
- Telegraph
Asda axes store managers in turnaround push
Asda is axing a key layer of middle management across its sprawling estate as chairman Allan Leighton steps up efforts to revive the supermarket. The retail giant announced an internal shake-up on Wednesday that will make a number of in-store managers redundant to 'take out complexity' from the business. Asda said it was combining its 'section managers' and 'trading managers' roles into a single 'manager' post, leading to the exit of some staff because of the duplication of roles. Section managers are a layer of in-store middle management who supervise team leaders and teams of shelf stackers. Trading managers are more senior and have responsibility for 'driving sales and standards'. The shake-up will collapse the two roles into a single job. This means around 20pc of store management will effectively be promoted to the new combined 'manager' role. But it will also mean some managers across its 700 larger supermarkets are no longer needed. Some are being asked to move to different nearby stores. Asda declined to comment on how many people were being made redundant. However, workers in its larger supermarkets reported being handed brown envelopes on Wednesday, saying they had been placed on gardening leave. Some claimed the number of people in management roles was being halved in their stores. However, the changes are understood to be different for each large supermarket, meaning some stores will have no redundancies. The shake-up does not affect Asda Express stores. A spokesman for Asda said: 'The investment in this new structure brings decision making closer to the shop floor and our customers by clarifying roles and providing clearer accountabilities. 'We will be offering our full support to other colleagues impacted by the changes.' It is the latest round of job cuts at Asda since Mr Leighton rejoined as its chairman in November. In March, Asda sacked more than 200 employees who had been involved in its botched £800m IT upgrade. That same month, it cut bonuses for thousands of managers, telling workers they would not be rewarded with payouts because of the retailer's faltering performance. In January, it also cut 13 regional managers as part of an internal restructuring. The latest move to sack middle managers echoes similar decisions by supermarket rivals. Earlier this year, Sainsbury's said it was planning to cut more than 3,000 posts, including a 20pc reduction of senior management roles. At Asda, Mr Leighton has argued he wants to prioritise investment in stores and lower prices to help the supermarket win back shoppers. Mr Leighton has said the plans will result in a 'material reduction' in profitability at Asda. It was seen as firing the starting gun on a price war among grocers, with Tesco and Sainsbury's racing to counter recent reductions. It follows years of declines at Asda. The most recent figures from Kantar showed its market share slipped from 12.5pc to 11.9pc in the year to the middle of June. Over the weekend, The Telegraph revealed the supermarket chain was piling pressure on suppliers including Heinz, Nestle and General Mills to help it cut prices within its stores. At the time, an Asda spokesman said: 'The material investment we are making this year to lower prices has already made a difference by opening up a 3pc-6pc price gap over other traditional full-service supermarkets.'
