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Alliance Boots. Another rip off.

pettgrapettgra
in Not Sports Related
Surprise surprise another Company accused of tax avoidance to the tune of 1bn pounds. When are the policy makers ever going to have the balls to close loopholes like this.
I guess they are obtaining nice little earners from the NHS as well. Makes me want to weep.

Comments

  • LincsaddickLincsaddick
    edited October 2013
    I saw a programme about Boots last year .. the company is now owned I believe by an American 'investment company' on the line of KKR .. the Boots company HQ is now a brass plate on the wall of an obscure law firm in a tiny Swiss canton .. it's only the 'bent' tax laws which allow these 'investment firms' (a k a asset strippers) to make any real money .. I'd deport all of the conniving little fuckers who get up to these kinds of dirty (yet quite 'legal' of course) tricks.. definite RED CARD
  • pettgrapettgra
    I could not have put it better Lincs.
  • LincsaddickLincsaddick
    edited October 2013
    .. following my post above .. Boots was taken over by KKR, 'cleaned up', was found a nice tax haven in which to lurk, then hived off in large part to the largest US 'drug store' chain. Every day it seems the UK economy becomes more and more a whore for American business



    Taken verbatim from Wiki

    Boots branch in Wetherby, West Yorkshire.
    In late 2004, Boots sold the laser eye surgery services to Optical Express.[13]

    On 1 October 2005, rumours began to circulate that Boots and Alliance UniChem were planning a merger. The merger was announced on 3 October by the Chairman of the Boots Group, Sir Nigel Rudd. The CEO Richard Baker left the business, and the new group took on the name Alliance Boots plc. The merger became effective on 31 July 2006.[14] The new group was subsequently bought by Kohlberg Kravis Roberts and Stefano Pessina, the deputy chairman of Alliance Boots, taking the company private.
    On 19 June 2012, it was announced that Walgreens (America's largest drug store retailer) would purchase a 45% stake in Alliance Boots, costing $6.7bn. The deal is a long term plan to give maximum exposure to both brands, Boots more so in America and, Walgreens more so in the UK and in China through Boots presence in the market. Both companies will then seek to complete a full merger within three years costing an extra $9.5bn.[15]

    On 5 August 2013, The Guardian revealed that Boots UK has 4,000 staff on controversial zero-hour contracts.[16]
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