Divestment at Tesco

In the increasingly contestable battle for market share in the supermarket industry, Tesco is responding by selling seem of their peripheral assets.

Today they have announced the sale of their Dobbies Garden Centres chain for £217 million hot on the heels of the decision to off-load their chain of Giraffe restaurants. The Dobbies Garden Centres have been sold to a private equity group whereas the loss-making Giraffe restaurant chain has been bought by the owner of Harry Ramsden’s restaurants and The Cinnamon Club. Tesco is cutting their debt with these sales but more importantly, it is focusing on their core business of selling groceries. More here from the business team at Sky news.