Tesco to close 43 stores

Latest business news from the Bury Free Press
Latest business news from the Bury Free Press

Supermarket chain Tesco is to close 43 unprofitable stores nationwide.

It is not yet clear which stores will be affected.

The news came yesterday as the retailer released its trading statement showing a decline in sales of 2.9 per cent in the 19 weeks to January 3 and 0.3 per cent over the six-week Christmas period.

The firm’s plans to strengthen its balance sheet include reducing its capital expenditure budget by a billion pounds in 2015/16, revising its store building programme and disposing of Tesco broadband and Blinkbox to TalkTalk.