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News Release

London

​JLL’s head of UK Retail comments on Tesco business shake-up announcement

Tim Vallance, Head of JLL UK Retail comments on today’s announcement from Tesco on store and business closures


​London, 8th January 2015- Commenting on today’s announcement from Tesco on store and business closures, Tim Vallance, Head of JLL UK Retail, said: “New year, new tactics for Tesco who today truly launched their fightback against the discount retailers. Dave Lewis has shown bravery, strength and leadership in announcing the closure of the Cheshunt HQ and sale of failing investments, demonstrating his expertise in change and brand management and intention to focus on core business and strengths. A sophisticated, ambitious and innovative consumer focused strategy to boost sales and the morale of the governance board will hopefully help to navigate the firm to less choppy waters after what was an ‘annus horribilis’ for the retailer.”