As Morrisons slashes debt, has it cut back too much?

Last month, Morrisons confirmed that it had reduced its debt burden by almost 40% as part of wider turnaround efforts driven by new boss Rami Baitieh.
The Bradford-based company has repaid £2.4bn of debt overall since it was snapped up by private equity owner Clayton, Dubilier & Rice (CDR) in 2021. Repayments to date have brought its overall debt pile down to £3.8bn, from £6.2bn.
To deliver these savings, Britain’s fifth-largest supermarket chain has pushed ahead with