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Asda is set to raise £568 MILLION in a store sell-off as sales continue to fall. The s upermarket is still losing market share despite effort under Allan Leighton to win over customers with price cuts.

Asda is selling off 24 stores and a distribution centre – and leasing them back – to raise £568m. Sales fell 3.9% in the three months to 2 November, according to data from Worldpanel by Numerator (formerly Kantar), which indicated a one percentage point drop in market share from a year before.

Nadine Houghton, a national officer for the GMB union, which represents thousands of the retailer’s workers, said there were concerns about Asda’s future in the light of the latest lease-back deal.

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Nadine

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