Asda Buy-Out Brings Bargains to Sunderland -- The UK Knack Group

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Another corporate battle of the supermarket Goliaths has ended in good news for the housewives and the unemployed of the north-east – commented UK Knack Group.

The good news for shoppers is, of course, that by the principle of 'discount for bulk purchase', Asda's buying power means you will pay no more for groceries at a smaller Asda shop than at a mega-store.

Another corporate battle of the supermarket Goliaths has ended in good news for the housewives and the unemployed of the north-east – commented UK Knack Group.

Wearside in Sunderland will have 80 jobs being gazetted by Asda, after the chain’s successful takeover of its rival Netto’s British empire.

Executive employment consultancy The UK Knack Group’s managing director announced the development at a news conference on Wearside last night, confirming Asda’s compliance with an Office of Fair Trading order to sell several Netto stores in order to assure a competitive trading environment.
He said, “The 30 jobs on Wearside will be some of 190 created by Asda between its existing stores and the Netto acquisitions.
“Pennywell, Ryhope and Sunderland Retail Park will be the Asda re-brands, and they will want an extra 10 staff apiece.

“The good news for shoppers is, of course, that by the principle of ‘discount for bulk purchase’, Asda’s buying power means you will pay no more for groceries at a smaller Asda shop than at a mega-store.”
Ensuing from Asda’s declared take-over plan in May last year, the OFT ruled that the chain must sell 47 stores. That included a specified number with already confirmed buyers. Small rival retailers Iceland, Haldane’s and Morrison’s will continue to operate eight of the Netto premises as food outlets, leaving only the Birtley Netto unsold. Morrison’s has also taken a Netto store in Castletown.
Asda’s chief financial officer Judith McKenna has warmly welcomed the former Netto employees under the Asda umbrella, hinting at a buoyant 2011 for all staff.

About The Uk Knack Group
Built on decades of experience the Knack team consists of some of the most experienced professionals in the UK and abroad who have helped thousands of businesses and people to be more successful.

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Nick Parritt