Tesco's retreat from overseas operations continues with the disposal of hundreds of stores in Poland following tough trading.
Tesco has agreed a deal to sell 301 stores in Poland for £181m as it continues to exit markets overseas.
The UK's largest retailer, which has recently offloaded its operations in Thailand and Malaysia, said it expected net proceeds of £165m to arise from the agreement with Danish-owned Salling Group. The proceeds from the deal, which is subject to regulatory clearance, would be used for"general corporate purposes", Tesco said.It would leave the company with just 19 stores in Poland, having previously sold off 22 sites.
Tesco, which in the past had a global footprint with operations in both the US and China, said the latest retreat reflected tough trading conditions.Tesco explained that it had stronger market positions and better growth prospects in the Czech Republic, Hungary and Slovakia.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesco slashes prices in store and online with whopping 40 percent off - you must act fastTESCO has cut prices on popular food and drink items in store and online by up to 30 percent. This is the full list of deals.
Read more »
New store shopping rules at Tesco, Asda, Morrisons, Aldi and LidlTESCO, Asda, Morrisons, Aldi and Lidl have all introduced new rules in their stores. What are the latest supermarket queueing updates?
Read more »
Tesco cuts prices in store and online for limited time - how to save whopping 40 percentTESCO has cut prices on popular food and drink items in store and online by up to 30 percent. This is the full list of deals.
Read more »
Tesco, Asda and Sainsbury's update priority shopping rules and discounts for NHS staffTESCO, Asda, Sainsbury's, Morrisons and Aldi are among the supermarkets who have made changes in stores because of the coronavirus crisis. These are the latest updates on NHS and priority shopping.
Read more »
Asda, Sainsbury's, Tesco and Morrisons urgent food recall amid serious health concernsTESCO, Asda, Sainsbury's and Morrisons food items have been recalled due to a possible health risk. This is the full list of products that should be returned to stores.
Read more »
Tesco, Asda, Sainsbury's and Morrisons issue urgent food recall - full list of itemsTESCO, Asda, Sainsbury's and Morrisons food items have been recalled due to a possible health risk. This is the full list of products that should be returned to stores.
Read more »