The UK's Competition and Markets Authority (CMA) should be expanded to counter the ever-growing influence of private equity investors in the UK high street, says GMB Union.
Canadian asset manager Brookfield has agreed to buy the lease on Wilko’s 1.1 million sq ft distribution centre in Worksop, Nottinghamshire for £88 million.
Wilko originally sold the distribution centre to DHL for £48 million only months ago.
Nadine Houghton, GMB National Officer, says: "The sale of Wilko distribution centre to Canadian investment and private equity giant Brookfield and the recent Hilco revolving credit facility raises further concerns about the ever-growing influence of private equity investors in the UK high street.
"Highly debt leveraged models are being used to buy up the uk high street with little or no oversight from regulators."
The GMB union, which represents workers on the high street and in logistics, is calling for the role of the CMA to be expanded - giving greater regulatory oversight in relation to private equity buyouts and ensuring greater protection of both consumers and workers.
