Spectator on facebook

Spectator on facebook

Tesco might quit Slovakia

BRITISH retail chain Tesco is pondering quitting Slovakia after 19 years and selling 155 outlets, 18 filling stations and two big distribution stores, the Sme daily wrote.

Tesco in Zvolen(Source: Sme)

“So far nothing has been decided,” a British investor informed about Tesco’s recovery plan, as quoted by the Sme daily in its March 2 issue. The retail chain is openly re-considering business plans in central and eastern Europe - also in the Czech Republic, Hungary and Poland due to the situation on the British market where it is under pressure from discount supermarket chains Lidl and Aldi. Tesco also has to cope with the burden of failed expansion to the US and Japan.

A possibility still exists that Tesco stays and considerably slims down its retail chain.

Analyst Ľubomír Drahovský opined for the daily that if Tesco decides not to leave Slovakia it will probably only close loss-making outlets.

Slovak activities of Tesco can be sold in a package together with Hungary, the Czech Republic and maybe Poland,” an unnamed British investor familiar with the chain’s recovery plan told Sme. The second scenario is the sale of whole chains in individual countries.

Tesco managers are expected to first officially discuss the recovery plans in the upcoming weeks, when recent fiscal results will be published.

Tesco arrived to Slovakia in 1996 when it bought seven department stores from US retail chain K-Mart. So far, the Britons have not commented on the news, only reacting by saying that it is widely known that they are re-considering their business plan. 

Top stories

Night life in Bratislava will not end

Councillors for the Old Town adopt new opening hours for pubs, night clubs and restaurants.

Cvernovka's creative talents celebrate first open day at new premises Photo

Bratislava's art and design ateliers from the old yarn-making factory open their doors on May Day.

New premises for Cvernovka

How social networks can earn you a ticket to Germany

Can a status on a social network change someone’s life? Yes, if you write humorous stories about a fictive German ambassador.

Assaf Alassaf (r) talked about his life and his book in Bratislava

New investor to create 500 jobs in Nitra

A company following the Jaguar Land Rover carmaker to Nitra plans to create 500 new jobs and invest €17 million.

Tha Jaguar Land Rover draws also other investors to Nitra.