This chain is in deep trouble in the US. Here in the Coachella Valley (Palm Springs low desert area) of So Cal, they built stores from scratch. However, at least 1/3 of those stores never opened. The two stores closest to our home were completed 3 to 4 years ago. The signage went up but the stores never opened. Once, they posted Help Wanted signs on both stores. Then about 6 months ago, they announced that in order “Not to confuse people”, they were removing all of the signage. Huh??? We were not confused. We all knew the stores were not open.
Plus, the closest one was located right outside the gates of a 5,000 home Sun City. It is a great location for the nearly 9,000 people who live here, not even considering the surrounding community homes. Now, I understand the Brits are looking to sell the entire US business.
Well Tesco has been losing money hand over fist in an attempt to break into the grocery market. They knew it was going to cost a ton of money to invest upfront and sure enough it did, but I haven’t read that they are ready to throw in the towel yet.
Most of the stores that they mothballed were poor performing stores in areas that have been hit hard by foreclosures (Vegas, the desert, etc.)
At least I hope not. I love my local F&E.