Morrisons’ debt pile reached £7.52billion last year as it attempts a major overhaul to strengthen its bottom line and appeal to more shoppers.
Earlier this year, Lidl ousted Morrisons as Britain’s fifth-largest supermarket chain, showing just how far the once widely-loved retailer has fallen.
It has adopted an aggressive cost-cutting drive, targeting £1billion in savings and competing with discounters after the private equity takeover by Clayton, Dubilier and Rice loaded it with billions of pounds worth of debt.
Companies House filings this week showed net debt at Market Topco, the parent company of Morrisons, rose from £7.07billion to £7.52billion in the year to the
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