28th Jan 2015 13:05
LONDON (Alliance News) - Tesco PLC Wednesday announced the list of stores it plans to close within the next few months, one of the raft of new measures it revealed a few weeks ago to help put the struggling supermarket chain back on track and rein in costs.
Earlier this month, Tesco revealed that it would be closing 43 "cash unprofitable" stores in the UK, and is also pulling out from opening a further 49 stores it had previously planned to open or just short of 2 million square feet of space. Lewis said at the time that just over half of the 43 planned store closures would be its smaller format Tesco Express shops, while it is mainly bigger stores that it will no longer build.
Tesco revealed Wednesday the locations of the stores, which appear equally spread across North and South England, as well as two in Northern Ireland, five in Scotland, and the remainder in England.
In total, Tesco is closing 18 Express stores, 12 Tesco Metros, seven superstores and six DIY Homeplus stores, including in Edinburgh and Chester. The store closures will see 2,000 staff lose their jobs.
Tesco shares were trading 0.4% lower at 229.55 pence Wednesday early afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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