Asda's Financial Woes Deepen: Junk Status, Debt, and Competition

Asda, the supermarket chain, faces financial struggles with a lowered debt rating, increased borrowing costs, and a record low market share. The companys profits are expected to drop due to heavy price cuts and IT system issues. A recent store sale and leaseback deal will increase rent payments. Asdas financial troubles are exacerbated by rising interest rates and a billion-pound debt to its former owner, Walmart. The company must navigate fierce competition and a complex retail landscape to improve its financial health.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.