The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.1 - Retail sale in non-specialised stores
7,500 jobs Number of planned job creations
Announcement Date
19 September 2005
Employment effect (start)
1 October 2005
Foreseen end date
Description
Tesco is to outline plans to create almost 7,500 jobs across Britain as it expands its non-food offering. The company is opening its first non-food store - Tesco Homeplus - in Manchester in October 2005 and is hoping to further expand its business in areas other than food as it tries to grab an ever larger share of consumer spending. Tesco will expand its range across consumer electrical items such as DVDs, home furnishings and clothing. Tesco has amassed a land bank of 185 further development sites across the country, significantly larger than any of its rivals. The Sunday Times reported that building stores on these sites could take the company's share of the market to 45% and described the land bank as a 'secret plan' to 'dominate Britain'.
Sources
18 September 2005: Sunday Times
19 September 2005: The Guardian
Citation
Eurofound (2005), Tesco, Business expansion in United Kingdom, factsheet number 62247, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62247.
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