laatste update: 11-2023
Beloved British grocer WM Morrisons’ unencumbered property portfolio made it a top leveraged buyout target for some of the world’s biggest banks. But as the FT’s Robert Smith explains, when market sentiment changed, the deal ended up costing them hundreds of millions of pounds.
#buyout #supermarket
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Yet another example of capital being used to destroy instead of being used to grow and develope .
At the moment Goldman Sachs's most famous alumnus is Rep. George Santos. He got out just in time.
Aaaah well it’s about time banks felt whats it’s like at the end of the line
They made the bed. Let them lie in it.
This company is known for ownership of producers. I E farms for its meat milk ect.
What you may not know is if a company supplies a product to them and its say 70% of your total sales, they will come along and and basically say sell your company to us or we will stop buying from you.
The worst thing eny company can do is give more than 20% of sales to one company.
Goldman Sachs hit for 100s of millions. Finally a good news story. Though I'm sure Goldman will find a way to pass this on to the ordinary person in the street
Guess where the present PM used to work. Yes, GS where return on investment is everything and to hell with consequences for workers and shoppers
Why are American banks even allowed to purchase British businesses that supply our basic needs? Morrisons was started by genuine people in Yorkshire, now it's owned by faceless banks. Also why tf would you choose to buy debt, that seems like completely stupid, debt is something you should avoid at all costs, not intentionally buy.
Morrisons ruined Safeways, so I have no sympathy for their destruction by the Yenghi. If you sell to equity companies you know you will be asset stripped before too long. That destroys confidence in suppliers and customers. Morrisons board was greedy and gave no thought to the employees nor the customers. Morrisons hiked prices by almost a fifth in the past year – more than any other major grocer and double the rise at Sainsbury's.
Morrisons are being used by the US to destroy the British markets, The US has already destroyed the British Data Protection laws by illegally migrating British users from secure servers in Dublin and Luxembourg, to California where there is no data protection except for residents of that state. This ILLEGAL migration was carried out in May 2020 while the media were all about Covid-19 and the government were using Brexit to destroy the country.
Now that Morrisons is owned by an American company the food will go up and the staff will be overworked and under paid , just another example of our “ special” friends from across the Atlantic asset stripping the Uk and our government are completely silent and complicit – BOYCOTT Morrisons
Morrisons is still a decent super market fruit is very good and meat quality is good too its not that expensive to be honest
Sharks always eat their own. Hence never become a shark. And that holds true for all types of business. Only out for themselves, never for the public good.
I use to work for one of their distribution centres whilst studying 2015ish. I saw Dell Inspiron running on expired SSPI.
Made me want to start my own supermarket chain
I mean even if they couldn't sell the debt, if it's still due to be repaid then they haven't taken a hit at all. Because they have no crystallised losses. Surely it's just a waiting game to recoup their losses? Is the video misleading or am I missing something?
I still think Morrisons is a decent supermarket, they have a good bakery, butchers and good selection of products
LBO and paper thin margin business, gee what could possibly go wrong. Are you sure this was Goldman Sachs? Sounds more like Goldman Suchs.
Video of Morrisons Manager calls customer W@###R
The staff member bullies and discrimination of a customer. On twitter
Have shopped at Morrisons for many, many years. Always value for money and high quality. Now the shelves are empty, you can't get what you want. They are obviously buying in lower quality produce and selling it at extortionate prices. They won't last much longer. Its a recipe for disaster.
😂😂😂 this is great news 🎉🎉🎉 bye bye to that nepo company
Morrisons is the worst supermarket rude staff empty shelves very expensive poor quality food moor card is useless I wish they would go bust nasty supermarket