Tesco has £6.4 million annual lost-One of the biggest in UK corporate history

Tesco has announced a whopping £6.4 million annual loss.

The factors responsible include, competition from other stores like Aldi, Lidl etc, an accounting scandal and of course a write down on the value of its property portfolio.

Tesco has also agreed to pay £270 million a year to its pension fund. It also has a deficit of £2.8m at the end of March last year.

Metro