Supermarket Iceland has put its expansion plans on hold because of a rise in energy bills.
Managing director Richard Walker said the company’s latest energy bill had more than doubled to £20m, which had left the group “fighting to keep the lights on”. The supermarket, because of its frozen food focus, has a bigger reliance on fridges and freezers than its rivals.
Walker said the chain would have to make difficult decisions that might include mothballing shops or closing them completely because of the “unsustainable” energy costs.
