Asda eyes £400m sale of 20 supermarkets - Retail Gazette

Asda plans to offload 20 stores in £400m deal to raise cash

Asda is reportedly set to sell around 20 supermarket stores in a bid to raise £400m as it aims to generate more cash for the business, according to the Telegraph.  The news comes amid reports first published by Green Street News, that Asda plans to offload the stores and lease them back for around 20 years.  The group has appointed property adviser Eastdil Secured to seek new buyers.  The news comes as the supermarket grapples with £3.8bn of deb…

Asda plots £400m sale and leaseback of 20 supermarkets

Asda is planning to raise around £400m from the sale and leaseback of 20 supermarkets to help fund its turnaround plan. The grocer has appointed property advisor Eastdil Secured to…

Asda eyes £400m sale of 20 supermarkets - Retail Gazette

Asda is looking to sell around 20 stores for £400m to help fund its turnaround plan. The supermarket chain is planning to offload the shops located across the UK and lease them back for the next 20 years. Asda has appointed property advisor Eastdil Secured to manage the sale, Green Street News reported. Sale-and-leaseback deals are popular among supermarkets as a means of raising capital to boost their balance sheet. John Lewis Partnership sold …