Morrisons owner raises £220m in sale and leaseback of warehouses

A Morrisons store in Camden, north London. The group’s takings fell by nearly 5% in the three months to the end of November, according to Kantar. Photograph: Ian West/PA

The US private equity owner of Morrisons has raised £220m from the sale and leaseback of seven warehouses amid concerns over the UK supermarket group’s debt mountain.

Morrisons has struggled since Clayton, Dubilier & Rice took it over in a £7bn buyout just over a year ago. Takings sank nearly 5% in the three months to the end of November, according to the latest data from the market research group Kantar, despite grocery price inflation of 14%.