Tuesday 07 September 1999
Safeway has its own problems and probably needs a deal as much as Somerfield, but it is not quite that desperate. It took one look at Somerfield's grim store portfolio and the nightmare that is Kwik Save, and decided that it would be better to fight on alone than involve itself with such a mess.
On the other hand, Somerfield really is desperate. The early promise of the Kwik Save merger last year has turned out to be a mirage, and the shares are falling just as Mr Simons' share options have become exercisable. Somerfield was struggling even before the Asda-Wal- Mart deal, and as rivals such as Tesco and Sainsbury's respond, Mr Simons finds himself more and more out on a limb. Somerfield's place in the new order is as hard to see for the City as it plainly is for Mr Simons. It was hoped that the merger with Somerfield would reverse years of growing marginalisation for Kwik Save. That looks less likely by the day.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
- 4 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Ellen DeGeneres leads Johnny Depp, Gwyneth Paltrow and Paul Bettany in revealing game of Never Have I Ever
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
British Muslim school children suffering a backlash of abuse following Paris attacks
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
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