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Tesco to wind up Home Plus stores Monday, 23rd January 2012
The UK’s largest retailer is understood to be looking at closing its stand-alone furnishing chain Home Plus as it looks to focus on its core grocery business.
Tesco is thought to be keen to exit leases it holds on all 13 of its Home Plus stores after weak sales at the out-of-town outlets.
According to an article in The Times, Tesco and its property advisor Morgan Williams have been reviewing the Home Plus stores for six months, while two branches in Telford and Staines have already been formally marketed.
Tesco opened the first of its Home Plus stores in 2005. The warehouse-style outlets do not sell food, instead retailing furniture and soft furnishings.