Tesco is expected to announce record losses of up to £5 billion later this week as chief executive Dave Lewis unveils his turnaround plan to overcome the supermarket’s recent troubles.
In a statement to thisismoney.co.uk, one City analyst commented: “We are expecting big writedowns on several fronts, but the final figure could be eyewatering.
“This is Dave’s chance to show he has a handle on the business. Grasping the nettle on property, pensions and balancing debt are a large part of showing he can seize control.”
It is widely thought that the supermarket could be preparing to sell off assets including Dobbies Garden Centres, Giraffe restaurants and its stake in the Harris + Hoole coffee shop business.
