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Next month’s UK election will likely be a reckoning for Prime Minister Rishi Sunak, the Conservative Party and its handling of the aftermath of Brexit and the pandemic. It turns out both events have already played a key role in shifting control of some of Britain’s best-known brands to foreign hands. High Street retailers like Morrisons, Byron Burgers, Wagamama and others have all been scooped up by US private equity firms in recent years. And the debt they owe, compounded by high interest rates may be endangering their financial resilience while putting employees at risk.
1:00 - Leveraged buyout explained
2:10 - The fall of Morissons
3:30 - The impact of Brexit and Covid
4:05 - Private equity is everywhere
4:45 - Morrisons and its colossal debt
5:50 - Jobs, consumers and consequences
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2024/06/07
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