Sainsbury's Site Collapses

Sainsbury's website went down on 17 June and is still down, it has yet to confirm when the site will be back up and running.

Sainsbury's delivers to 90,000 customers a week and their average spend is approximately £80 per transaction. Therefore the glitch is estimated to have cost it already £1M in lost sales, plus the costs of £10 compensation offered to an estimated 20,000 people affected by the problem over Wednesday and Thursday.

This is not the first time that Sainsbury's have had problems with their online delivery service, as I can personally attest to.

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Sainsburys' Deal Off

Delta Two the Qatari investment group has cancelled its bid to take over Sainsburys' citing turmoil in the credit markets.

Delta Two claims that the cost of borrowing has risen significantly since it first made its 600p per share offer.

Sainsbury shares fell 18% to 454p in early trading on the news.

The credit crunch is now proving to be the convenient excuse of choice for those wishing to change their minds in respect of deals and business agreements.

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