UK supermarket chain Tesco is selling its real estate in Hungary and renting it back as part of a global strategy to reduce the number of properties it owns, improving liquidity, the webpage of business daily Vilaggazdasag reported on Tuesday, citing Tesco global communications director Max Curtis.
Tesco is selling real estate in Europe and the US to American investment company WP Carey and Company, who will sign 15- to 20-year leases for the properties with Tesco.
Tesco has 95 stores in Hungary. Vilaggazdasag learnt Tesco will sell the stores for a combined EUR 63m (HUF 16.7bn).
dont know what to think… will this make tesco worse or better?
I mean will the new tesco where I live continue to sell blue, rotten
salmon in the discount section, and make you pay the retail price
for items on sale, or not have the sale items in stock as advertised
in the paper until the sale is over?
Never seen a place so disorganized until I moved here… and this
isnt even a Hungarian owned company!
Why you shopping at Tesco then, Mike? You like overpriced, out-of-date, poisoned food?
Tesco was started by a jew in the East End of London
just after WW11. The owner sold cheap lable-less tins of fruit, soup, beans etc. They were, in fact, ex-NAAFI rations. (At least two years old and a huge health risk!)
Seems things haven’t changed very much, Mike???
@TinPanAlley. Don’t know what being jewish has to do with anything here. Unless in some way you’re equating ethnicity with something; you’ve not confirmed whether this guy was practicing or otherwise, nor it seems was his sub-brand of judiasm important.
As to your history lesson, it’s less than accurate. Jack Cohen started Tesco after the FIRST World War, not second. Though he started as a trader, he eventually built offices and space in NORTH London. As to selling expired rations, to Cohen’s credit, he bought farm land prior to the advent of rationing so that he could sell FRESH food (that he rationed) to his customers.
You also neglected to say that Cohen was a veteran; community oriented; and that the TES in Tesco comes from T Stockwell – who I doubt was jewish – again, not that that has any import, except to you.
MLK, notice that the article was really talking about a real estate deal that Tesco in Hungary is involved with at the moment. No big deal, really. I am sure folks dying to eat Tesco food will continue to patronize the stores whether they own or lease their buildings, true?
As to TPA’s comment, notice that he did not refer to the ethnicity or religious BG or faith of company’s founder as a “dirty Jew,” a “filthy Jew,” a “money-grabbing Jew,” or by any other derogatory term. He had happened to mention that he was a Jew. I did not think that was important anyhow, because what I got out of FPA’s comment was that the operation started out rather shadily from the get-go. MLK, obviously what you had written about the origins of Tesco in the UK is 100 percent different than what our mutual friend TPA had commented here. Are you guys even talking about the same company? As both of these early histories of Tesco cannot be right.
Amazingly, there is a Tesco in America, too, this is what they do: “Tesco Corporation is engaged in the design, manufacture and service delivery of technology based solutions for the upstream energy industry.”
So, no food items there. However, a few years ago, Tesco UK was considering “breaking into” the USA market, but they had received so much flak, based on their rotten global reputation elsewhere, that they decided to move into the no-regulation Far East instead.
http://www.foodanddrinkeurope.com/Retail/Tesco-shuns-US-retail-graveyard-for-China
Martin Luther King. I don’t care about Cohen’s religion or ethnic background. Or, whether he was was a “practicing” jew or not. These issues seem to
concern you -why?
You have adapted the alias of a dead, black, freedom fighter. Are you intent on starting an argument with me? A London Jew started Tesco. He had a chain of stores trading as Cohen the predecessor to Tesco. They were mediocre and, the livery colour – I think purple, was inappropriate for foodstores. Just my opinion.
Cohen showed his ingenuity by buying and selling Naafi rations at discount prices. He also had the staying power to build a successful business.
I wouldn’t shop at Tesco I think its products are inferior. Don’t mistake me for one of the jew-hating ignoramuses that usually post on these sites, now, will you??
Tin Pan Alley: You were reasonably accurate as the following entry Confirms:
(Sir) Jack Cohen, Tesco Founder.
Career
He was born in Whitechapel in the East End of London, the son of an Avram Kohen, an immigrant Polish-Jewish tailor, and his first wife, Sime Zamremba.[1]
He began his working life as an apprentice tailor to his father but in 1917 he joined the Royal Flying Corps where he served as a canvas maker.[1] Upon his demobilization in 1919 he established himself as a market stall holder in Hackney, in London’s East End by purchasing surplus NAAFI stock with his demob money.[1]
Co-founder & Tinpanalley, you two are clearly in the right re. this Cohen fellow’s early history. And Martin Luther King — you are not, except for the WWI part verus WWII. No big deal, either way, as if one needs to buy cheap food cheaply, Tesco is the place to go in Hungary, I understand.
Personally, I like the ‘piac’ and the local vendors there better. More organic stuff.
TESCO means T.E.Stockwell and COhen.simple
TE Stockwell was a tea trader who entered into partnership with Cohen. TES+COhen,TESCO the most often punished company in Hungary for false advertising,manipulation,lying etc…
Well, all I can say is thank heavens for this particular Jewish conspiracy, because this past Sabbath day (Saturday) I got some delicious pork ribs there for way less than I’d get at my regular goy piac.
Erik: “One man’s meat is another man’s poison”?
Contrary to popular opinion you are not a “practicing” jew? Munching pork ribs on a Saturday afternoon. The Jewish Sabbath???!!!
Pleased to hear you enjoyed your ribs Erik. Only be careful, they may have been cheap for a reason
JD, seriously now, for a minute. Who the fu_k gives a crapper about what ribs Erik enjoys and what other ribs Erik does not enjoy? Or you serious, Man!? Or have you no useful comments re. the article?
Well, I for one am glad to have ~Tesco over here! The old ones need a bit of TLC and a bit more staff training on fresh produce, but apart from that, can’t wait for the new one to open up near Vac. We have to go near to Budapest now, so it will halve our journey. Can get all I want at Tesco, love it!!
Tesco= Cheap, cheerful, and boring like their Hungarian counterparts CBA but, without the “cheap”
because, the latter is very expensive.
Lidl and Auchan are reasonable.
The local “goy/s” do not exist anymore – or very few. Climb down from that hack’s bar stool in
the smokey dives of Budapest and come and see what is happening in the provinces, Erik? Not a pretty sight I assure you!