Tesco has confirmed the purchase of a £30 million private jet, a week after announcing a £250 million black hole in its balance sheet. However, chief executive Dave Lewis has ordered that all five of the company’s jets are to be sold. The Gulfstream G550 was ordered and paid for nearly two years ago under Tesco's previous chief executive Philip Clarke.

Meanwhile, the former boss of Ikea and the chief executive of Compass are to join the supermarket as non-executive directors, upping the retail expertise on the board.