Tesco is closing its last six Homeplus stores in the UK and is axing around 450 jobs as Dave Lewis continues to review its non-core business.
- Tesco brings curtain down on Homeplus business with loss of 450 jobs
- Non-food business axed as boss Lewis focuses on core supermarkets
- Dunnhumby and Tesco mobile could be sold next as review continues
The embattled supermarket giant revealed it was closing half of its 12 Homeplus stores in January this year, sparking speculation that new boss Lewis was seeking to bring the curtain down on the entire chain.
Now the grocer has said it is shuttering its final six Homeplus stores in Bristol, Bracknell, Nottingham, Denton, Bromborough and Preston. All six shops will close on June 27.
A Tesco spokesman said: “We’ve taken the difficult decision to close our remaining six Homeplus stores.
“Our priority is now to explain what this announcement means for our colleagues and wherever possible, offer them alternative roles with Tesco.”
Homeplus was launched by former Tesco boss Sir Terry Leahy in 2005. The retailer planned to build a portfolio of out-of-town stores selling homewares, clothes, electrical goods and stationery.
Lewis, who took the reins at the grocer last September, is undergoing a stringent review of Tesco’s non-core assets and businesses. He wants to focus on its supermarkets and convenience stores, while cutting costs to shore up the balance sheet.
Lewis has already sold off Tesco broadband and its Blinkbox service to TalkTalk. Dunnhumby, the data business behind the supermarket giant’s Clubcard loyalty scheme, is also on the market with WPP and Nielsen leading the race to secure a controlling stake in the business.
As Retail Week revealed, its health business is also under review after swinging the axe on managerial roles in its health and wellbeing division, while the grocer is also understood to be gearing up to sell Tesco mobile.
Last month, Tesco reported an annual loss of £6.4bn, the biggest in its history and one of the largest in British corporate history.