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Private equity predators on pandemic plundering spree preying on British firms
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mirror.co.ukLabour today vows to stop private equity vultures from swooping on British firms. Shadow Chancellor Rachel Reeves is pledging to bring in tougher rules to prevent big finance from buying and then gutting companies.
The move follows mounting anger at the pandemic plundering spree, with more than 120 businesses snapped up. Ms Reeves accused No10 of standing by as speculators circle supermarket giant Morrisons, raising fears posts and livelihoods could be put at risk.
She also cited the non-private equity takeover of the McVitie’s factory in Glasgow, where 500 jobs are set to go because its Turkish owners want to shift production overseas, and the GKN plant in Birmingham that could be closed by investment firm Melrose. What do you think should
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