Tesco to close six UK Homeplus stores

Retail giant Tesco’s decision to close 43 stores nationwide will have a major impact on physical store space devoted to furniture and other Home category lines.

The UK’s largest retailer announced the stores closures yesterday — part of a plan to save £250m a year — by shuttering unprofitable stores.

Six of the 43 stores to close are Homeplus units, representing a sizeable proportion of its dedicated non-food store offer.

Tesco is thought to have only 12 Homeplus stores across the UK in all, meaning it is effectively closing half the estate.

Homeplus stores to close — scheduled to take place by mid-March — include shops at Fort Kinnaird in Edinburgh, Chelmsford, Chester, Southampton, Staines and Bristol Cribbs.

Tesco’s other Bristol Homeplus store — at the Imperial Retail Park — is thought to be unaffected, as are stores at Preston, Nottingham, Denton, Bracknell and Wirral Bromborough.

The grocer’s Homeplus stores carry a significant home and furniture offer, in addition to apparel and electrical goods. It also sells furniture online through its Direct business.

Source : The Furnishing Report
http://www.thefurnishingreport.com/index.php/distribution/national/2871-furniture-and-home-space-cutback-as-tesco-culls-stores