UK supermarket giant Sainsbury’s is considering a move from its London headquarters as part of a drive against costs, it emerged today.
The UK’s third largest food retailer has paid a reported £16.4m (€24.2m) annually in rent on the property in Holborn since moving in three years ago.
But the size of this bill has come under the scrutiny of new chief executive Justin King who is spearheading a review of the company’s cost base.
A decision on whether to move the 3,000 head office staff could accompany an update on trading due to be delivered by Sainsbury’s in October.