German coffee and non-food products retailer Tchibo is to exit the UK market completely by the end of this year.
The company has already said that its concessions in Somerfield and Sainsbury’s supermarkets will close in 2009 as a result of the harsh conditions in the high street.
Now, it has confirmed that it will pull out of the UK “as soon as possible”.
The leases on Tchibo’s 50 standalone stores in the UK are reportedly up for sale.
Tchibo sells a range of kitchenware and other housewares alongside other non-food products, as well as operating coffee shops.