Learn more

By Henry Saker-Clark, PA Deputy Business Editor & Lawrence Matheson Morrisons, the supermarket chain, has reported a loss of over £1 billion last year due to high debt financing costs. The Bradford-based retailer was bought by US private equity firm Clayton, Dubilier & Rice (CD&R) in 2021 for £7 billion. The company’s accounts show a pre-tax loss of £1.09 billion, following a £1.52 billion loss the previous year. This loss is largely due to £735 million of financing costs related to the company’s large debts and increased interest rates. Before the takeover, Morrisons had net debt obligations …

cuu