The article details Asda's progress toward completing its tech separation from Walmart in Q3 2025, including the planned cut of 200 staff tied to the Project Future initiative. Asda, which was acquired by TDR Capital in 2021, is restructuring its operations, a move that raises concerns about the impact on worker rights and job security.

TDR Capital LLP, a UK-based private equity firm, confirmed its majority investment in CorpAcq, a business acquisition compounder in the UK. The deal is expected to support CorpAcq’s growth strategy through future acquisitions, while also raising potential concerns about increased economic consolidation.

GMB union members staged a protest at an Asda store in Bournemouth on June 17, 2024, condemning TDR Capital's acquisition-driven management practices, which reportedly included cutting significant shop floor hours and neglecting equitable pay for predominantly female workers.

Approximately 500 GMB members protested at an Asda store in Bournemouth on June 17, 2024, against TDR Capital following its acquisition of a majority stake in Asda. Protesters accused the firm of slashing millions of work hours—estimated at 16,500 hours over two years—and neglecting equal pay claims, particularly impacting predominantly female staff.

On June 17, 2024, around 500 GMB union members gathered outside an Asda store in Bournemouth to protest TDR Capital’s acquisition of a majority stake in Asda. Protesters decried the company’s cost‐cutting measures—which included slashing millions of shop floor hours and alleged failures to address significant equal pay claims affecting predominantly female staff—arguing that such practices undermine workers' rights and exploit vulnerable employees.

Asda workers and GMB union members protested following TDR Capital’s acquisition of a majority stake in Asda, decrying massive cuts in shop floor hours and alleging unpaid back wages, particularly impacting predominantly female staff.

On January 11, 2024, TDR Capital executives were grilled by MPs over transparency issues regarding Asda's corporate structure and its handling of significant debt levels, as well as concerns over worker rights and union engagement. The company admitted using offshore registration in Jersey for greater flexibility and tax advantages, and later promised to commit to greater transparency following parliamentary feedback.

TDR Capital’s managing partner, Gary Lindsay, appeared before MPs amid scrutiny over Asda’s mounting £4.2bn debt, opaque use of offshore structures, and reluctance to engage with labor representatives. The firm’s assurances about debt management and promises for greater transparency were met with criticism over its broader business practices concerning worker rights.

TDR Capital, the private equity owners of Asda, were grilled by MPs during a Business and Trade select committee hearing on January 10, 2024. MPs raised concerns over the firm's transparency regarding Asda's £4.2bn debt, its offshore registration in Jersey, and its approach to workers’ rights, including issues around union engagement. The firm acknowledged the use of Jersey for regulatory flexibility and committed to greater transparency following the scrutiny.

TDR Capital, the co-owner of Asda since its acquisition in 2021 alongside the Issa brothers, faced scrutiny after failing to attend a pre-Christmas evidence session of the Business and Trade select committee. With MPs and workers demanding greater transparency, the firm is scheduled to give evidence on January 9, 2024, highlighting concerns over its evasive approach to accountability.

TDR Capital, the private equity owners of Asda, were grilled by MPs over concerns regarding the supermarket’s high debt levels, lack of transparency in corporate structures (including the use of Jersey registrations), and issues surrounding workers’ rights and union engagement, which have contributed to labor unrest and pending strike actions.

TDR Capital, along with its Asda co-owners, faced scrutiny over financing the Asda acquisition by loading debt on the Issa brothers' petrol stations, prompting concerns over potential adverse impacts on worker conditions.

Senior figures at TDR Capital, including managing partner Gary Lindsay, COO Blair Thompson, and deputy general counsel Emma Gilks, are set to face questions in Parliament as part of a probe by the business and trade committee into private equity’s impact on the retail sector following their takeover of the supermarket chain Asda.