New Asda owners could be considering sale of George

New Asda owners could be considering sale of George
Issa brothers could sell off Asda's clothing brand George.
// Asda’s new owners could split off its clothing business
// The Issa brothers are reported to have considered range of strategies for the supermarket giant
// Asda’s owners could also sell off the alcohol arm of the business for a third party to run

The new owners of Asda may be looking into selling off the supermarket giant’s £3 billion clothing business, George, according to sources speaking to The Mail on Sunday.

Earlier this month billionaire brothers Zuber and Mohsin Issa and private equity partners TDR agreed to spend £6.8 billion buying a majority share Asda, although the deal is yet to be completed.

Now industry sources speaking to The Mail on Sunday said the sale of George is among a number of strategies being examined by the new owners, alongside the possibility of separating off its alcohol business and having it run by a third party.


READ MORE: Asda makes redundancies at George head office


Senior supermarket sources speaking to the paper said a sale of George could raise funds to reduce any debt used to buy the grocery chain.

Separate sources close to the Issa brothers told The Mail on Sunday that splitting off parts of the business was ‘not being contemplated’.

In September Asda was reported to be restructuring its George division, resulting in 50 redundancies made at its head office in Leicester.

The redundancies accounted for about 10 per cent of George’s total head office team of 500.

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6 COMMENTS

  1. There the only clothes around were we live apart from primark a new look an they dont cater for is bigger people so please leave it as it is we need George

  2. I really hope they don’t sell off the George range. I love their larger size fashion. I often joke with the assistants that from top to toe, I am ‘Woman at George’. It will be a tragedy if they get rid of such a successful brand.

  3. George is a family necessity for a lot of families supplying good quality clothing at reasonable affordable prices. The George range has been incredibly successfull and because of this would be greatly missed and a loss if it was to go

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