Tesco has announced its intentions to build a retail estate on the Channel Islands, starting with Guernsey.
The multiple revealed its plans to a Guernsey newspaper. A spokesman told the paper: “It is not really a secret that we would like to come there but there is nothing concrete planned at this moment.”
However, retailers operating on the Channel Islands said that there were rumours that Tesco had set aside some £10m to build a retail presence.
Tesco’s comments come after it sent a delegation of executives over to the Channel Islands last summer. It is believed to be eyeing up CI Traders’ Le Riche stores or Morrisons’ two Safeway sites as potential ways into the Channel Island market.
One said: “If it goes ahead, the move would certainly threaten CI Traders, which would occupy a similar price point to Tesco.”
The multiple revealed its plans to a Guernsey newspaper. A spokesman told the paper: “It is not really a secret that we would like to come there but there is nothing concrete planned at this moment.”
However, retailers operating on the Channel Islands said that there were rumours that Tesco had set aside some £10m to build a retail presence.
Tesco’s comments come after it sent a delegation of executives over to the Channel Islands last summer. It is believed to be eyeing up CI Traders’ Le Riche stores or Morrisons’ two Safeway sites as potential ways into the Channel Island market.
One said: “If it goes ahead, the move would certainly threaten CI Traders, which would occupy a similar price point to Tesco.”
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