The billionaire brothers who own Asda have reportedly been asked to justify company loans allegedly used to buy private jets.
Interest in the dealing surround fears the the complicated set up and high debt could result in Asda customers paying higher prices. Mr Jones is now seeking detailed answers to nine questions about the finances of Asda and the EG Group.Among these, he is said to want details of loans worth “tens of millions of euros” reportedly granted to the brothers by EG Group to purchase private jets.
He wrote: “These questions are to help us understand if you are enabling Asda to do all that it can to help keep costs down during a cost-of-living crisis.” He added: “The Committee has concerns that the complex company structure within which Asda sits, and associated decisions on financing, may restrict your ability to help meet cost-of-living pressures on your customers.