Ocado could sell new warehouse However, Mr Steiner insisted the finances of Ocado, which leases its other distribution facility in Hatfield, are robust and the company will not breach covenants on its £83.1m of net debt. "We think that we are at the beginning of the end game for Ocado," said Mr Dorgan. Standing alone with a pile of debt and falling market share isn't sustainable. Mr Steiner said the decline in sales was driven by aggressive and "somewhat bizarre" coupon offers from rival supermarkets. Ocado placed less emphasis on short-term promotion tactics and focused on preserving margins, he added. Shares in Ocado fell 2.80, or 4pc, to 64.40p.