Tesco in retreat: Supermarket to close 43 stores and close its head office
Tesco is shutting its head office as well as 43 unprofitable stores as part of a raft of new measures as new boss Dave Lewis battles to turn around the groupís fortunes.
Britainís biggest supermarket made the announcement as it revealed like-for-like sales for the 19 weeks to January 3 fell by 2.9%, though they were not as bad over the six-week period, with a fall of 0.3%.
Tesco also said it was to close its final salary pension scheme and shut its main headquarters in Cheshunt, Hertfordshire, in 2016, moving to Welwyn Garden City. A restructuring of central overheads is expected to save £250 million a year.
Source : Click Me