In a letter to Mohsin Issa, one of the supermarket’s co-owners, the chair of the business committee asked for details of Asda’s corporate structure, capital investment and profit margins on petrol.
Concerns have been raised that Asda's "complex" ownership structure is making them unable to support struggling customers during the cost of living crisis.
Darren Jones, the chair of Parliament’s business and Trade Select Committee wrote: “The committee has concerns that the complex company structure within which Asda sits, and associated decisions on financing, may restrict your ability to help meet cost of living pressures on your customers.” This comes after the supermarket was criticised for taking bigger profits from petrol after a competition watchdog found it had put a stop on price cuts when wholesale oil prices fell. However, Asda did deny claims of profiteering, although the Competition Markets Authority has told them to make their food pricing clearer to help shoppers find the best deals, reports the Express.
The supermarket's “complex” ownership structure stems from the Issa brother takeover in 2020. The brothers secured Asda in a £6.8bn deal then merged it last May with the UK and Irish division of their petrol forecourt business EG Group.
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