Tesco to close 43 stores and scrap plans for 49 more

Tesco has revealed its plans for the revitalisation of its business. These include closing the company’s Cheshunt head office and making Welwyn Garden City the group’s base, closing 43 unprofitable stores, scrapping plans for 49 new stores and closing the company defined benefit pension scheme. In addition Tesco will not pay a final dividend to its shareholders in 2014/15 and is to explore options for the sale of its dunnhumby data business.

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