 which bought Morrisons for £7billion. He lives in a 6,000 sq ft, four-storey townhouse, built in 1899 in Manhattan's Upper East Side, reportedly bought for £6.9million in 2012. Neighbours include Madonna, Woody Allen and Drew Barrymore. Nate, wife Carole and their three kids spend weekends at their £3million rural retreat, two hours from the city in the Catskill Mountains. Carole, a former schoolteacher, married Nate after he graduated from Harvard Business School. He became CEO of CD&R in 2020 and within two years the firm had negotiated the Morrisons deal. In 2021, the business had £2billion borrowings. That has now shot up to £5.5billion — triggering large interest payments and leaving it vulnerable to soaring rates. The chain, with more than 110,000 staff, racked up so much debt in the year after the takeover that i){kind=link}
FATCAT supermarket owners have been accused of ripping off drivers to lower the debt built up in takeovers
Two of the UK’s biggest chains – Morrisons and Asda – have now clocked up more than £10billion of debt in total.
Yet bosses live in swanky mansions, fly in private jets and enjoy down time on huge holiday estates.
Morrisons and Asda were named and shamed this week by the competition watchdog for driving up petrol profit margins.
The Competition and Markets Authority found supermarkets overcharging by up to 6p a litre.