Private-equity owned supermarket Morrisons is aiming to spend £1 billion buying back its debt, after a big windfall from the sale of its petrol forecouts.
The supermarket, owned by US firm Clayton, Dubilier & Rice, had net debts of £8.5bn at the end of October last year, according to its most recent financial report. The debt pile has more than doubled since CD&R bought the business in 2021, and rising interest rates since that deal closed have made debt more costly. Morrisons spent £735 million financing its debts last year.
