Tesco to shut down 43 stores and head office 

Britain’s biggest supermarket, Tesco is shutting its head office as well as 43 other unprofitable stores across the United Kingdom (UK) as part of measures by chief executive, Dave Lewis to turn around the group’s fortunes.

The announcement came as the company revealed like-for-like sales for the 19 weeks to January 3 fell by 2.9%, though it was not as bad over the six-week period, with a fall of 0.3%.

Tesco also said it was to close its final salary pension scheme and shut its main headquarters in Cheshunt (Hertfordshire) in 2016, moving to Welwyn Garden City – a restructuring expected to save £250 million (N69.34bn ) a year.