BusinessBusiness RecoveryASDA front runner to buy Woolworths

ASDA front runner to buy Woolworths

ASDA is said to be the front runner to purchase Woolworths in an eagerly sought push to expand

The Asda
supermarket chain, owned by the world’s biggest retailer,
Wal-Mart in the US, is
said to be the front runner to bid for the troubled high street retailer
Woolworths.

Speaking on Skynews‘ Jeff Randall Live, Asda chief Andy Bond said he
was seeking to expand the company but stopped short of confirming the reports.

‘I obviously wouldn’t comment on particular speculation about Woolworths but
in terms of general growth, we do still have some success at opening new food
stores and it’s worthwhile understanding that most of our stores are actually
built on brown-field sites.’ Bond said. ‘There are always opportunities to build
new stores and we do that wherever we can.’

Randall, The Daily Telegraph editor at large said: ‘I know Asda is
to buy Woolworth’s stores. It has been trying to expand in the UK for years but
always runs up against planning problems. These stores offer it the
opportunity.’

Further reading:

Deloitte confident of salvaging Woolworths

Read
the Skynews story

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