Group battles heavy debts and problems transferring IT systems from former parent Walmart
The owner of Asda slumped to a near £600m loss last year as sales at the supermarket group fell and the cost of servicing its debt pile increased.
The UK’s third biggest supermarket dropped £599m into the red in the year to 31 December 2024, before tax payments, down from a £180m profit in 2023, according to accounts for Bellis Finco, the retailer’s holding company. Sales at established stores slid by 3.4%.
