Tesco close 43 stores and staff pension scheme despite productive Christmas

Tesco has revealed it plans to close 43 unprofitable stores across the UK and a “significant proportion” will be local convenience shops.

Amidst the planned closure of 43 unsuccessful stores, the firm is also shelving plans to open a further 49 new “very large” stores.

In addition, Tesco announced that they would be closing its staff pension scheme, making cuts of £250million and reducing overheads by 30%.