Eastern Slovak retailer interested in buying Tesco stores

THE INFORMATION on its sale, partial or total, has not been officially announced yet, but the British retail chain Tesco has already the first potential buyer: the Labaš company is unknown to western Slovakia but in the east of the country, it owns some 700 shops called Fresh, according to the Sme daily.

The first wooden Tesco opened in Rajec.The first wooden Tesco opened in Rajec. (Source: ČTK)

"If it was possible, we would surely be interested, mainly in smaller points of the chain in eastern Slovakia,” company representative Miroslav Labaš told the Hospodárske noviny economic daily.

Just this week rumours of Tesco selling off all or part of its Slovak assets emerged, as the parent company looks to recover following an accounting scandal in the UK. 

"If Tesco stayed on the market, it could opt for selling less effective shops in eastern Slovakia for now,” Ľubomír Drahovský an  analyst with the market research agency Terno, told Sme. He adds that Fresh is a stable chain that will be among the country's top 10 retail chains on the long term. Drahovský also said that the sale could concern Tesco stores in areas with high unemployment where people prefer lower priced competitors like Lidl or Kaufland.

Tesco has not officially announced its business plans yet, and calls all such information speculation. More detailed plans could be announced in the upcoming weeks, Sme wrote March 4. 

 

 

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