That's what happens when private equity firms take over businesses which employ lots of people. Stage 1 - The company is loaded with debt to repay the new owners for their upfront costs from their purchase. Stage 2 - Employ a new senior management team who are heavily incentivised to reduce the cost base. Stage 3 - Staffing numbers and Ts&Cs are reduced to allow the company to pay its way with higher borrowing costs. Stage 4 - Sweat the assets .. or more usually sell some assets to help manage the debt costs.
It's nothing new; it's an old playbook!
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Most liked posts in thread: Morrisons in trouble ... ?
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Rogered Tart Regular StarterP.L.22/23 Entrant P.L.23/24 EntrantKevin1954, Idlebantam, Storck and 1 other person like this.
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Keefly Bantam Important PlayerQatar 2022 Entrant P.L.22/23 Entrant P.L.23/24 Entrant Supporter P.L. 20/21 Top 20
Haven't shopped in Morrisons for a decade or more. Dull drab interior and staff. Managers always look like they are ready for a fight.
Asda , Aldi or Sainsbury's for me-much more pleasant experience.Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...CRASS, Bantam Begins and Idlebantam like this. -
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Jayteebee and Bantamsteve like this.
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Swapped to Sainsbury's in the last 8 months. Morrisons one or two visits a year for us in the last 6 years . Tescos don’t give a feck about customers.
CRASS and Rogered Tart like this. -
It has been in trouble for the past decade at least. It missed the boat with home shopping and also convenience stores. They have tried to catch up but never did. Their main problem is the historic unwillingness to change
Wakefield Bantam likes this. -
Offcomedun Important PlayerQatar 2022 Entrant P.L.22/23 Entrant P.L.23/24 Entrant Supporter Euro2020 Winner Euro 2020 P.L. 20/21 3rd Place
We’ve been doing our big weekly shop at Morrisons in Guiseley for nearly thirty years. It’s got noticeably worse over the past couple of years. The amount of stuff that is routinely out of stock is shocking. And the prices have rocketed. It’s barely more expensive to shop at Waitrose or M&S these days than Morrisons.Jayteebee likes this. -
Offcomedun Important PlayerQatar 2022 Entrant P.L.22/23 Entrant P.L.23/24 Entrant Supporter Euro2020 Winner Euro 2020 P.L. 20/21 3rd Place
https://www.reuters.com/business/retail-consumer/not-just-christmas-britains-ms-targets-more-regular-food-shoppers-2023-12-19/
M&S working on a plan to take more grocery shopping away from other supermarkets.
As someone who has routinely shopped at Morrisons in Guiseley for decades, I could easily see me crossing the road to M&S instead, if Morrisons doesn’t up its game soon. Since we buy mostly fresh fruit, veg and fish, rather than prepackaged food, the absence of many major brands at M&S wouldn’t particularly bother me.Interested Bystander likes this. -
M & S and Aldi all chaos this lunchtime. Morrisons dead in comparison. That company hasn’t got long I’m afraid, real shame but so much better out there. Sainsbury’s cheaper and better for example especially with nectar deals.
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Storck likes this.
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Rogered Tart Regular StarterP.L.22/23 Entrant P.L.23/24 EntrantKevin1954 likes this.
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Shopped at Sainsbury's for years, we always feel very looked after, in fact the manager gave us a free box of mince pies at Christmas, it doesn't take much to keep me happy haha
Not been to the Greengates branch for a long time but I hear it's rough around the edges nowBantamsteve likes this. -
I’d rather Q. Some supermarkets are now taking em out ……brilliant.Jayteebee likes this.
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