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[Asda Initiates Price War Amidst Debt And Market Share Decline] Asda, Now Burdened With £3.8 Billion In Debt Following A £7 Billion Takeover In 2021, Is Initiating A Price War With A Planned Investment Potentially Near £900 Million Over Three Years, Aiming To Regain Market Share After Profits Fell To Less Than Half Of The £423 Million Reported In 2000 And Market Share Decreased From 14.8% To 12.6% In The Last Four Years. This Move, Led By Executive Chairman Allan Leighton, Is Expected To Impact Profits And Potentially Lead To Job Cuts, While Also Affecting Competitors Like Tesco, Sainsbury's, And M&S, Which Have Already Seen Over £4 Billion Wiped Off Their Value, And Putting Pressure On Suppliers Amidst Rising Staffing Costs And Reduced Profit Margins That Have Fallen From 3.2pc To 1.8pc Between 2022 And 2023.
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