// Ocado Group is set to be ejected from the FTSE 100 this week
// The group, which made a £21bn debut on the stock exchange in 2020, is now worth less than £4bn
Ocado Group is facing a demotion from London’s leading share index after its shares slumped even further.
The online grocer’s stock market value has more than halved in the past 12 months and is expected to drop down into the FTSE 250 this week, according to data from FTSE Russell.
Inflationary pressures and return to normal shopping habits post pandemic led to Ocado’s losses ballooning to £501m last year.
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The group’s retail business, run as a joint venture with M&S, posted an annual underlying loss of £4m for the year.
The retailer announced in April it was to close its Hatfield customer fulfilment centre, putting 2,300 roles at risk.
The group, which had a value of more than £21bn in 2020, is now worth less than £4bn.
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