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Evening Standard
Evening Standard
Holly Williams

Ocado set for £262m compensation payout from Kroger after US warehouse closures

Kroger Ocado United States North Carolina

Online retailer and tech firm Ocado has secured a 350 million US dollar (£262 million) compensation payout after its US partner’s decision to scale back its robotic warehouse plans.

Ocado said US retail giant Kroger will make the one-off cash payment in January, sending shares rebounding as much as 16% higher in early trading on Friday, before the stock later settled around 10% up.

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