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The Latest Breaking News from Mohsin Issa

Asda recovery ‘set back six months’ by botched IT upgrade

Disruption from the IT transition led to ‘inconsistent availability levels across stores and particularly online’, the supermarket chain said.

Evening Standard

Asda to raise £568m in store sell-off as sales continue to fall

Supermarket still losing market share despite effort under Allan Leighton to win over customers with price cuts

The Guardian - UK

Leon founder buys back restaurant chain from supermarket giant

Around 1,120 staff across the chain will transfer to the new ownership

The Independent UK

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Leon co-founder John Vincent buys back restaurant chain from Asda

Asda did not disclose the price of the sale, which is reported to be at a big discount to the original purchase price.

Evening Standard

Asda Talks Progress, But Sales Keep Falling: Can Optimism Outrun the Numbers?

Asda's quarterly sales have dropped 4.2%, its steepest fall since the 2021 acquisition by the Issa brothers. While executives stress ongoing transformation, analysts and customers remain unconvinced, questioning whether optimism and digital investment can reverse the supermarket's decline in an increasingly competitive market.

International Business Times UK

Small Lancashire Town Battles Ex-Asda Tycoons Over Plans to Turn Green Fields Into Muslim Cemetery

A Lancashire town is opposing wealthy ex-Asda tycoons' plans to build a massive Muslim cemetery on greenbelt land.

International Business Times UK

‘Asda turnaround could take three to five years’: Allan Leighton returns to run retailer

Exclusive: The 71-year-old, who left in 2000, says he has three priorities to revive the supermarket chain for a second time

The Guardian - UK

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What’s in store for returning Asda boss Allan Leighton?

The ex-CEO turned the troubled supermarket around once before. Now he faces a new battle, from sorting retail basics to rebooting IT

The Guardian - UK

Asda boss says £100m hit from Labour budget could affect wages and hiring

Shares in UK retailers fall as investors digest Rachel Reeves’s changes to NICs and tax thresholds

The Guardian - UK

Asda pays the price for big debt and turmoil in the boardroom

With its shelves emptying and its billionaire owners in retreat, the struggling retailer has had to call in its veteran chair as chief executive

The Guardian - UK

Stuart Rose gets hands-on at Asda. This can’t have been plan A

Awkward interregnum in which former M&S boss is taking charge sums up chaotic progress since purchase from Walmart

The Guardian - UK

Former M&S boss Stuart Rose to run struggling Asda as co-owner steps back

Lord Rose is chair of supermarket and will take over day-to-day duties from Mohsin Issa

The Guardian - UK

Asda owners under pressure as chain’s share of market hits ‘new nadir’

Sales fell 6.4% in the three months to 10 August as chain becomes the only one of the big four to see sales drop

The Guardian - UK

Union calls for urgent action to protect jobs as Asda ‘fights for survival’

GMB accuses owner TDR Capital of mismanagement as sales at supermarket fall 6%

The Guardian - UK

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The Guardian - UK

Asda-owning Issa brothers divide their empire as Zuber sells supermarket stake

Union warns of risks to shoppers and staff after sale of younger brother’s 22.5% stake to private equity co-owner TDR Capital

Evening Standard

End of Issa brothers' close partnership as Zuber Issa exits Asda, quits as EG Group Co-CEO

The brothers had jointly built up a retail and petrol forecourt empire over years

The Independent UK

The UK’s most expensive supermarket petrol revealed

The RAC analysis found that across all UK forecourts, the average price of petrol fell by 2.4p per litre last month to 147.9

The Guardian - UK

Asda now the most expensive UK supermarket to buy fuel, study shows

Chain once prided itself on selling the cheapest fuel but RAC analysis shows it is now the dearest

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Evening Standard

Issa brothers net worth: Are the Asda owning duo really billionaires?

According to the Sunday Times Rich List, Mohsin and Zuber Issa are worth £5 billion, but Bloomberg gives a much lower wealth estimate

Evening Standard

Asda refinances £3.2 billion debt at higher interest rates

The supermarket is aiming to put its finances on a stronger footing after the billionaire Issa brothers and private equity firm TDR’s debt-fuelled acquisition

Evening Standard

Asda boss claims owners 'in it for long-run' amid billionaire Issas' rift

Reports last week said Zuber Issa is seeking to sell his 22.5% stake in Asda to private equity firm TDR Capital,

Evening Standard

Billionaire Issa brother nears deal to sell Asda stake to TDR Capital

Zuber Issa began talks earlier this year about selling his stake in Asda, and plans to step back as co-chief executive officer of EG Group

The Guardian - UK

Asda owners used petrol forecourt firm to repay private jet loans

Billionaire Issa brothers borrowed $7m from EG Group in 2022 to repay debt taken on to buy jets

The Guardian - UK

Issa brother ‘eyes sale’ of Asda stake to focus on petrol station business

Zuber Issa reportedly in talks to offload 22.5% share of supermarket in parting of ways with co-owner brother

Evening Standard

Mohsin Issa confirms relationship with ex-EY tax partner after Asda auditor resignation

The pair noted that Price was not an audit partner at EY and didn't work on the Asda business

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