Asda hardest hit by no-frills move in the UK

Asda has been hardest hit by shoppers cutting back and spending more in no-frills supermarkets such as Aldi and Lidl, new research suggests.

The Wal-Mart owned supermarket, which yesterday announced Simon King, its deputy chief executive, had stepped down with immediate effect, saw its share of the UK grocery market drop from 16.7% to 16.3% in the 12 weeks to June 13, according to data from Kantar Worldpanel.