| Comment | Part of the problem for Tesco is that they already have quite a few other stores of similar size elsewhere, so they're cannibalising their own customer base. They definitely over-expanded, and this is probably one of the casualties.
I remember the big Woolworths shutting down - it was a similarly depressing scenario.
Ultimately, something will happen with the space. It's too expensive to leave it sitting idle. Landlords have clearly lost their game of chicken with Tesco, it might take a while for them to adjust their expectations downwards but somebody will eventually come in with an offer that's better than having it sitting empty. |
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