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Tesco seeks property boss to sell assets

Tesco is on the hunt for a senior property figure to sell off non-core property in order to raise millions of pounds.

The struggling supermarket has approached figures in the property industry about taking up the role in a bid to balance its books, according to The Telegraph.

Tesco issued its fourth profit warning in five months last week, sending its shares plummeting. Profits for the year to the end of February will now be less than £1.4bn, far below the £2bn expected by analysts and the £3.3bn reported last year.

The company’s latest accounts value its property, plant and equipment at £25bn.

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