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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 staff across UK await news on store closures

Tesco is not yet disclosing the locations of the 43 stores to close but Mr Lewis revealed that a "significant proportion" would be Tesco Express convenience shops Credit: PA

The 43 Tesco stores facing closure have not yet been made public but a "significant proportion" will be Tesco Express convenience stores at sites across the country.

New chief executive Dave Lewis has not yet indicated the scale of the job losses at the beleaguered supermarket, with full details set to be known by April.

Employees affected by the closures will be informed over "coming months".

Head office jobs will also see cuts as Tesco cuts overheads by 30%.

Mr Lewis said he understood how the announcement would hit "hard-working people", adding: "I am not immune to the impact of the decisions we have had to take on our colleagues."

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