Tesco, which has been present on the Polish market for 24 years, has been struggling with financial problems for several months. Until now, the British retail network has denied speculation that it may withdraw from Poland.
According to Bloomberg, citing sources similar to the case, Tesco is considering selling the Polish branch. The reason is to focus on the development of the commercial network in Great Britain and new promising markets. Talks about the sale of the Polish branch of Tesco are at a very early stage, and the supermarket chain may still withdraw from it.
In June this year, Tesco had 348 stores throughout Poland – the most from Central and Eastern European countries where the British company is present. Due to the growing competition of other supermarkets and the introduction of commercial Sundays, Tesco in Poland began to record increasing losses.
Last year, it recorded an operating loss of $ 14 million. The British chain closed 62 stores in 2018. It didn’t stop there – in July Tesco announced plans to close 8 hypermarkets. Group layoffs covered at least 4,000 employees throughout Poland.