5 ms·
”Tesco, a retail conglomerate headquartered in the United Kingdom” For any non Uk people, it’s the largest supermarket in Uk. Combination of large stores and s
by fsuts 4mo ago
”Tesco, a retail conglomerate headquartered in the United Kingdom”
For any non Uk people, it’s the largest supermarket in Uk. Combination of large stores and smaller high street convenience stores.
(2nd largest was owned by Walmart who sold it recently to private equity and so now it’s saddled with debt and being ruined…).
- lmm 4mo agoWalmart had already ruined ASDA to be fair, it's not like private equity is doing worse.
- rwmj 4mo agoThe fifth largest (Morrisons) was also sold to PE with predictable results. https://en.wikipedia.org/wiki/Morrisons#CD&R_takeover https://en.wikipedia.org/wiki/Morrisons#CD&R_takeover
- stuaxo 4mo agoWe need a private equity tracker so we can get alerts on these and track the debt loading and looting.
- eterm 4mo agoIn really grinds my gears that the buying companies take out the debt to take over against the companies themselves. So many well-known UK companies have been sunk by debt interest on loans taken out to acquire said companies. By all means use the companies to secure loans, but the liability should be on the books of the parent companies not the companies being acquired! There have even been cases where the companies have been effectively asset-stripped by "sell and lease back" of property, leaving the companies a shell of their former selves with no meaningful assets, so as soon as there are any unexpected headwinds they collapse.
- rwmj 4mo agoIt should simply be illegal.
- inigyou 4mo agoIt's the bank's problem. The bank is supposed to determine whether it's likely to be repaid in full, and if not, don't issue the loan which blocks the sale.
- kevin_thibedeau 4mo agoA bank shouldn't be recognizing collateral that the buyer doesn't own.
- illwrks 4mo agoWas Morrisons ever any good?
- rwmj 4mo agoTheir fish & meat counters are much better than the other supermarkets. Better selection and much fresher.
- illwrks 4mo agoI never knew that! I'll try one out next time I'm passing.
- GJim 4mo agoPretty damn good; not least because each store (aside from the smallest) has their own on-site butcher and fishmonger. Not to mention a decent deli.
- illwrks 4mo agoThanks for the recommendation, I'll pop by one over the coming weeks.
- noisy_boy 4mo agoIt has decent presence in some parts of South East Asia as well via JVs e.g. Tesco Lotus in Thailand.
- sandworm101 4mo agoAnd it has no US comparison. The tesco meal deal concept, the literal wall of choices, just doesnt exist in north america. I did a big work trip to the UK a couple years back with over 100 people. I tried to explain meal deals and nobody believed me. Then our people basically stripped the meal deal shelves of the tesco express beside our hotel.
- pdpi 4mo agoWhat's so unbelievable about meal deals? It seems like a really straightforward bundle purchase.
- nixgeek 4mo agoA sandwich, bag of crisps and a drink for £5 is an actual deal. Sandwich alone in U.S. would be $10 and the “$15 Meal Deal” just doesn’t have the same ring to it.
- sam345 4mo agoIncorrect. Maybe you familiar with the high cost of living areas. There are similar $5 deals in the United States. The US is a big place and has many, many businesses offering very similar deals.
- nrki 4mo agoThing is, the meal deals are _everywhere_ in the UK. There is no "high cost of living" priced Tesco. Or Sainsbury's. Or 5 other supermarkets.
- ralferoo 4mo agoMeal deal prices are higher in certain places, like motorway service stations. If there's a captive market, they'll sneak the price up just like every other company. If there's competition they'll use lower pricing.
- 4mo ago
- Annatar 4mo ago[dead]
- ksec 4mo ago>(2nd largest was owned by Walmart I am late to this thread but Sainsbury is the 2nd largest supermarket in the UK and it is now owned or have any partnership with Walmart. Or are you talking about ASDA?
- mhh__ 4mo agoasda