Tesco No Longer Largest Grocer After Possible Writdowns
April 13, 2015 7:40 pm
April 13, 2015 – Stock Market News
Fears for Tesco’s future have been under threat by looming writedowns which could send Tesco even further backwards. Since the overstatement of its profits was uncovered this past summer, Tesco has had to close its doors in 43 locations, as well as pause development on nearly 50 new locations. Tesco shares took another 2.67% dive today as a result, officially costing Tesco its title as the largest grocery chain in the UK.
April 13, 2015 – Stock Market News
Fears for Tesco’s future have been under threat by looming writedowns which could send Tesco even further backwards. Since the overstatement of its profits was uncovered this past summer, Tesco has had to close its doors in 43 locations, as well as pause development on nearly 50 new locations. Tesco shares took another 2.67% dive today as a result, officially costing Tesco its title as the largest grocery chain in the UK.
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