UK supermarkets looking at massive property write-downs

[Nicholas Wallwork]

While the news from Tesco of late has been terrible to say the least, there is speculation there is more bad news on the way for the UK supermarket sector. Prominent financial experts believe that Tesco is on the verge of writing-down the value its property portfolio by at least £1 billion with some suggesting [...]

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[mattheonline]

Yes - one Tescos in Peterborough is closing...so they are making some savings here.