Dec 9, 2019

Tesco considers sale of Thai and Malaysian stores

The UK's biggest retailer, Tesco, is considering the sale of its stores in Thailand and Malaysia. Tesco has about 2,000 stores in the two countries under the Tesco Lotus brand and employs some 60,000 people. The announcement signals another potential pullback by Tesco from its once-ambitious global expansion. Tesco has shed several businesses across the world in recent years. At the same time it sold the Giraffe restaurant chain just three years after buying it for £49m. Tesco had previously withdrawn from the US, Japan, and China.

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