MRW...22 Jun 2021 07:57
Sad to see Morrison get taken out. But years of mismanagement have finally caught up with it. The shop is an overpriced, understocked, chaotic, offline fossil.
Feel sorry for frontline staff in the stores. The best days are behind it. The (most likely) American buyers will quickly asset-strip Morrison, quietly slash jobs, pressure remaining employees to work (much) more for less, load the firm up to the gills with debt, and run away with multimillion bonuses.
Also feel sorry for the London Stock Exchange. MRW is yet another big delisting. A flood of delistings, calamitous IPOs, and plunging liquidity... The London market is all but dead.
We're witnessing a collapse in the British retail industry, right before our very eyes. Britain no longer has the wealth or management skills to compete with the best from America or Germany.
UK is going post-retail.
Expect MRW to get taken out at 250-300p.
Tesco, Sainsbury's and M&S will be next to go. They simply don't have the management skills to compete with nimble Amazon or lean Aldi-Lidl.