The 2 Supermarkets I mentioned are classic examples:Morrisons' PE buyers have no clue or experience how to run a chain of supermarkets. A lot of real estate (with big parking areas & spaces) is their coveted prize. Start selling the real estate to a sister/associated company and leaseback at prohibitive rents. The company withers away citing economic headwinds and all other excuses. And the regulators were asleep at the wheels with the connivance of blindly following Thatcherite ideology establishment.

Source: The Guardian October 10, 2024 12:29 UTC