Belfast Telegraph

Thursday 17 April 2014

Tesco looking to wind down furniture chain

Tesco is understood to be close to winding up its stand-alone furnishing chain Home Plus as it regroups and focuses on its core grocery business.

The grocer is keen to exit leases it holds on all 13 of its Home Plus stores after weak sales at the out-of-town warehouse-style outlets, according to reports.

The chain saw billions wiped off its shares earlier this month after admitting that its £500m price cut campaign had failed.