CityA.M. reports that TESCO yesterday lost another senior executive as Michael Holmes responsible for in-store dining, left the company. Holmes was the director of Tesco businesses including restaurant chain Giraffe, coffee shop Harris + Hoole, in-store restaurant Decks, and Tesco’s Euphorium bakeries.
His departure is the latest that accompanies the current re-structuring of the TESCO business by new Chief Exec Dave Lewis. The changes are cutting as many as many as 10,000 jobs, from senior directors, to head office and store employees.
Holmes departure is naturally encouraging speculation about the future of the Giraffe and Harris + Hoole businesses and where they do – or do not – fit into the TESCO empire in future.
Tesco acquired the Giraffe chain for nearly £50 million in 2013, and has a 49 per cent stake in Harris + Hoole, which has recently been rationalising its 40 outlets (6 closures) and had pre-tax losses of £12.8 million last year.
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