[26] Eventually, a combination of flagging profits, a tremendous debt and a loss of customers left Asda in such an egregious financial situation that they came very close to breaching their banking covenants; at one point, they almost entered administration.

The company's first response was to change its management; chairman John Hardman was ousted in June 1991 and was replaced by Patrick Gillam, and Archie Norman was appointed chief executive in October.

[31] Norman succeeded Gillam as chairman upon the latter's retirement in 1996, appointing then-deputy Allan Leighton as chief executive, and began to remodel Asda's stores along the lines of Walmart, the world's largest retailer.

At the same time, merger discussions were taking place between Asda and other retailers such as Safeway and Kingfisher plc; both collapsed without an agreement being reached, but in 1999, a second round of discussions with Kingfisher later reached an agreement for a £5.4 billion merger that would have both created the United Kingdom's largest multi-category retailer and enabled Asda to begin operating stores throughout Europe.

[34] A merger deal was abandoned when Walmart outbid Kingfisher to purchase Asda for £6.7 billion, which was completed on 26 July 1999[35] in a move that was initially speculated by British media outlets as a potential corporate raid.

[38] In 2005, amid reported concerns within Walmart about a slippage in market share, partially due to a resurgent Sainsbury's, Asda's chief executive, Tony De Nunzio left, and was replaced by Andy Bond.

The merger underwent intense scrutiny by a cross-party group of MPs, chairing select committees for the proposed merger, along with the Competition and Markets Authority, investigating the impact of how the deal could negatively affect the retail industry by a possible reduction of consumer choice for shoppers resulting in price rises, and of how suppliers, especially smaller, family-owned companies could be squeezed by the combined group.

[65] In March 2021, Asda was involved in the "largest ever sterling bond offering" as part of the financing package to fund the acquisition purchase by TDR Capital and the Issa brothers.

[72] In June 2024, Zuber Issa announced he will sell his 22.5% stake in Asda to TDR Capital which would make them the majority owner, controlling 67.5% of the company in the third quarter of 2024.

[74] In September 2024, it was announced that Lord Rose would succeeded Mohsin Issa as CEO and be supported by TDR Capital's Rob Hattrell.

[79][80] The new brand identity has proved popular across the design community, with The Drum describing as "less shiny and corporate", "less American and much softer" and "honest, down-to-earth, playful style".

Most superstores have a petrol filling station and dining and refreshment facilities for shoppers such as customer cafes, and selected stores have McDonald's franchise restaurants or "Express Diners".

This is the company's first "general merchandise" store, containing all its non-food ranges including clothing, home electronics, toys, homewares, health, and beauty products.

[91] On 6 December 2006, The Guardian reported that further planned store openings were under review following poor sales in the existing outlets, while the range of branded products being carried was also being expanded due to customer demand.

However, in October 2015, the company decided to slow the roll out down to address the problems associated with a major collapse of profits from its large store formats due to intense competition from its main rivals.

[95][96][97] Just Essentials by Asda, formerly known as Asda Smartprice, is a no-frills private label trade name introduced in 2022, to lower food prices and help struggling customers since the cost of living crisis that began in the UK in 2021, which saw grocery inflation reach several record all-time highs; and retailers battle to retain hard-pressed customers to maintain sales.

[100] Asda has its own range of clothing known as George, which was created and trialled in selected stores in 1989, and officially launched and rolled out to the main superstore estate in 1990.

Real-time diagnostics – a connected stethoscope, pulse oximeter, blood pressure monitor, contactless thermometer, and a close inspection camera – will be available in the pharmacy and patients can consult a GP remotely without the need to book an appointment in advance.

[109] The ASDA pharmacy in Chelmsley Wood joined with local GP practices to deliver flu vaccinations from a van parked outside in October 2020.

Previously, customers could get a 10% return in money when they spend on Star Products, but it is no longer the case, citing a "Rollback" campaign that was about to happen.

Asda and Wayve aim to use their capabilities to bring autonomy into the online grocery space and look for ways to improve last-mile delivery with technology.

[121] The company was fined £850,000 in 2006 for offering 340 staff at a Dartford depot a pay rise in return for giving up a union collective bargaining agreement.

[122] Poor relations continued as Asda management attempted to introduce new rights and working practices shortly thereafter at another centre in Washington, Tyne and Wear.

Whilst most companies handle this properly, Asda's payroll system did not, which meant that workers had, through no fault of their own, paid less tax for the year than they should have.

The pocket tap ads were launched in 1977 and over the next 30 years, a range of celebrities have been "tappers", including from 1978, actors Richard Beckinsale, Paula Wilcox, James Bolam and later, Julie Walters, and football player Michael Owen.

[142] In January 2025, Asda reintroduced the iconic "Rollback" campaign, which aimed to cut back prices on over 4,000 products by an average of 25%, with additional thousands over regular intervals over the year.

[144] Asda has signed up to the Ethical Trading Initiative (ETI) which respects workers' rights for freedom of association and a living wage.

Video taken at the farm showed animals so lame they were unable to access food or water, and dead goats dumped outdoors.

[161] The ASA ruled in 2011 that a television advertisement and two national press ads did not give sufficient prominence to the fact that exclusions applied.

[168] ASDA later released a statement, claiming that this previous tweet was an "honest mistake" and reiterated that these were indeed the "colours of the pride flag to show our support for the LGBTQ+ community".