Wed, 13 Apr 2016 | DIVISION SALE
Continuing its plan to offload non-core businesses, supermarket giant Tesco is now rumoured to be selling off loss-making Dobbies Garden Centres.
Britain’s largest grocer chain recently revealed plans to sell restaurant chain Giraffe. Now Scottish-based garden centre chain Dobbies has fallen under the scrutiny of chief executive Dave Lewis, as he moves ahead with his plan to focus on Tesco’s core business.
Dobbies, which Tesco acquired for £156 million in 2007, has 35 garden centres across the UK. However, Dobbies posted losses of £48 million in 2015 after booking £54.4 million in impairments on assets. Naturally, speculation that the garden centre chain will be the next company Tesco looks to shed has been rife in the media.
Another Tesco business that may well be sold off is the coffee chain Harris + Hoole, as Mr Lewis furthers his plan to offload non-core assets.
Investment bankers at Greenville have reportedly been appointed to find buyers for the businesses. The move comes just days before Mr Lewis is due to announce the retailer’s full-year results to the City.
A spokesman for Tesco said: “We do not comment on rumour and speculation.”
Tesco has recently sold off its Nutricentre vitamins company, Blinkbox streaming service and South Korean Homeplus business.
For more information, see more retail businesses for sale.
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