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Tesco to shut 43 unprofitable stores and HQ

Under-pressure supermarket Tesco is to close 43 unprofitable stores, as well as shut its head office in Cheshunt in 2016.

The retailer's sales fell 2.9% in the 19 weeks to January 3 and by 0.3% over the six-week Christmas period.

Earlier it announced that it was launching a fightback by cutting prices on hundreds of its products.

Shoppers will see lower prices on household favourites from brands such as Hovis, Marmite and Coca-Cola as the company tries to win back market share from discount rivals such as Aldi and Lidl.

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Tesco: 'Most' of 43 stores to close are Express outlets

Most of the 43 Tesco stores to close will be Express outlets Credit: PA

The 43 unprofitable Tesco stores facing closure are "mostly" Express outlets, the retailer told ITV News.

The supermarket said it would be consulting with store employees affected by the closures "over the coming weeks".

Our performance as a business has fallen significantly short of where we would want it to be and we have had to face up to some very tough decisions, including the closure of 43 unprofitable stores.

Our first priority is to consult colleagues who are impacted by these changes and we will be speaking to them over the coming weeks.

– Tesco spokesman

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