Tesco buy private jet, which adds to their woes

6 October 2014

tesco bag Your daily update of what future historians will probably refer to as 'The Fall of the Tesco Empire' sees them troubled chain in a private jet crisis.

They've just taken delivery of a brand new Gulfstream G550 plane, which timing-wise has not gone down terribly well with investor.

New chief executive Dave Lewis had already ordered that the chain's fleet of private jets be destroyed by fire* (*sold off), in a bid to sort out the supermarket's current debacle of overstating its profits by £250 million.

However its claimed that the plane was paid for 20 months ago, and turned up coincidentally during the worst week imaginable for Tesco.

Tesco, whose market share price has plummeted by nearly 50% this year, already had a fleet of four private jets.

Quite why though, no-one is being particularly forthcoming. Is the new hudl2, which Tesco unveiled last week, going to pay for it? Or the death of BlinkBox? Tesco will be hoping so.

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