What: John Lewis Partnership is reportedly in talks to raise GBP 150 million through a sale and leaseback deal for 12 Waitrose supermarkets.

Why it is important: The potential sale and leaseback deal could help raise significant capital for the company's turnaround plan amidst challenges in securing additional funding.

The properties, predominantly located in the south of England, have 20-year inflation-linked leases. While CBRE is acting as the property agent, there is no certainty that a deal will take place. The news comes as John Lewis Partnership faces challenges in raising additional capital for its turnaround plan. Chairwoman Sharon White cited high inflation and the "cost-of-living crunch" as hindrances to the plan's progress.

John Lewis eyes GBP 150m sale of 12 Waitrose stores