Tesco is reported to be wanting to call time on its furnishings and homewares Home Plus format.
According to The Times, the supermarket chain, which has been struggling in recent months, wants to exit the leases on all of its Home Plus outlets and focus on its grocery business. However, says the report, the leases run for up to 20 years and Tesco could be forced to stick with its Home Plus stores if new tenants cannot be found.
Tesco operates the out-of-town warehouse-style Home Plus stores in Bracknell, Bristol, Chelmsford, Chester, Denton in Manchester, Fort Kinnaird in Edinburgh, Nottingham, Preston, Southampton, Staines, Telford and Bromborough on the Wirral.
Tesco’s Home Plus trial started in 2005 but the stores are under-performing.