Tesco to launch discount chain within weeks

Speculation is rife that Tesco is on the verge of launching its new discount chain after it advertised for workers to staff new format stores.

Weekend chatter in the UK business press highlighted the forthcoming arrival of Jack’s, the new name of Tesco’s discount fascia that could launch as early as September in a bid to claw back some of the market share it has lost to German discounters Aldi and Lidl.

It comes after the UK’s biggest retailer started advertising for workers to staff new format stores in Wandsworth, Lincolnshire and Cambridgeshire.

One of the job ads for Tesco’s new stores reads: “The new retail format will be operated separately from the core Tesco business and as such benefits offered will be different from those offered at Tesco.”

According to The Guardian, the Tesco Metro in St Helens, Merseyside is also set to re-open under the new name, and staff at a Tesco Metro in Liverpool’s Edge Hill were reportedly given new jobs for a store that will open in five weeks.

The affected Tesco Metro staff are reportedly being made redundant and asked to reapply for the new roles.

The news follows revelations in February that Tesco had earmarked two potential sites – the Lincolnshire and Cambridgeshire sites – and entrusted former Aldi operations director Lawrence Harvey and advisors from Boston Consulting Group to spearhead the project.

Tesco built these stores with a view to adding them to its estate but had to back out in 2014 and 2015 amid its financial crisis, along with 47 other stores.

According to The Mail on Sunday, as many as 60 stores could be launched under the new Jack’s banner initially.