Tesco Closures: Is Your Local Store To Go?

Tesco (Xetra: 852647 - news) has revealed the locations of the 43 stores it is planning to close, placing 2,000 jobs at risk.

The supermarket chain, which has suffered a string of problems including falling sales and a £263m profits overstatement, announced the closures last month as it moved to save costs.

It has now confirmed the impact of the decision, with seven superstores and six Homeplus outlets among the sites to be shut.

The majority were either Express (NYSE: EXPR - news) or Metro (Other OTC: MTRAF - news) convenience operations.

Chief Executive Dave Lewis, who is currently running the UK business, said: "In January I announced that our performance as a business has fallen significantly short of where we would want it to be and that to protect the future of the business in the UK we would close 43 unprofitable stores.

"The decision to close the stores has been exceptionally difficult to take. I recognise it will affect many hard-working colleagues, our customers and local communities.

"Our priority is to explain what this announcement means for our colleagues and wherever possible, offer them alternative roles with Tesco.

"We will continue to serve our customers through other local stores and our dotcom service."

In addition to the shutting of shops, the group also previously announced it would shelve plans for 49 new UK stores.

They included its £22m Chatteris store in Cambridgeshire which had been earmarked to open its doors to customers two months ago.

Tesco has not been alone in efforts to save costs.

A supermarket price war - mostly driven by the challenge from hard discount chains Aldi and Lidl - has taken its toll on other major supermarket companies.

Sainsbury's has cut jobs while Morrisons' chief executive Dalton Philips paid the price for a woeful Christmas when his departure from the business was confirmed earlier this month.

:: Tesco Superstore Closures

Bedlington, Chatham, Connswater and Cregagh Road in Belfast, Doncaster, Kirkcaldy and Wrexham Dodds Lane.

:: Tesco Homeplus Closures

Bristol Cribbs Causeway, Chelmsford, Chester, Edinburgh, Southampton and Staines.

:: Tesco Metro Closures

Bicester, Bootle, Caerphilly, Crossgates, Devizes, Grangemouth, Mexborough, Morecambe, Ormskirk, Runcorn, Smethwick and Woodseats.

:: Tesco Express Closures

Bearwood; Belvedere; Church Street, Ballymena; Heaton Chapel; Heybridge, Essex; Houghton Regis; Liverpool Kensington; Longbridge Road, Barking; Northfield, Birmingham; Raymouth Lane, Worksop; Sheffield Manor; South Tottenham High Road; Tredegar; Troon; Walsall Wood; Wealdstone; Whitley Bay; and York Road, Hartlepool.