Asda Sells Stores, Leases Back, Debt Surges

Asda, the UKs supermarket chain, sells 24 stores and a depot to reduce debt, generating £568m. The properties are sold to Blue Owl and DTZ, with Asda retaining operational control through a sale-and-leaseback agreement. The funds will support capital investments and debt repayment, including a £900m debt to Walmart. However, analysts warn that the deal may increase long-term debt due to lease liabilities and higher operational costs, as Asdas market share continues to decline.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.