11th Apr 2016 11:07
LONDON (Alliance News) - Tesco PLC is making plans to dispose of its non-core loss-making businesses, including Dobbies Garden Centres, according to Sky News.
Citing unnamed sources, Sky News said it has learnt that Tesco has appointed investment banking adviser Greenhill to work on the sale of Dobbies, the garden centre business which Tesco bought in 2008.
Dobbies has 35 garden centres across the UK, but recorded a total loss of GBP48 million in the financial 2015 year.
The UK's biggest retailer is also reportedly planning to sell coffee shop chain Harris & Hoole as well as restaurant chain Giraffe and bakery business Euphorium.
This comes after Tesco revealed plans to close its Nutricentre health and wellbeing business at the end of last month.
http://news.sky.com/story/1676359/tesco-boss-to-weed-out-loss-making-dobbies
A spokesperson for Tesco declined to comment on the report.
Shares in Tesco were trading up 2.3% at 195.00 pence at midday on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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