THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omni Channel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Sainsbury’s sale of 18 stores to LXi REIT will not proceed

Sainsbury’s has announced that the potential sale of 18 supermarkets to LXi REIT will not be going ahead. The retailer said last week that it was… View Article

FOOD & DRINK

Sainsbury’s sale of 18 stores to LXi REIT will not proceed

Sainsbury’s has announced that the potential sale of 18 supermarkets to LXi REIT will not be going ahead.

The retailer said last week that it was in discussions with the commercial property company on the sale of the stores on a sale and leaseback basis. The funds raised would have been used to part-fund the purchase of 21 freehold Sainsbury’s supermarkets from the Highbury and Dragon portfolios.

Due to current stock market volatility, LXi REIT has now decided not to proceed with a share issue that would have part-funded the transaction. 

However, Sainsbury’s will still complete the purchase of the 21 stores and has given a timeline of the first half of the financial year to March 2024.

The retailer said: “Given the strength of the Sainsbury’s balance sheet and property portfolio, we have a wide variety of alternative options to finance this transaction.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News