Tesco could face £3bn bill for failing supermarkets

Tesco is facing a bill of £3bn (A$5.8bn) on its failing supermarkets as Britain’s biggest retailer fights against falling sales and profits, City analysts have warned. The supermarket group will reveal a £3bn impairment charge on its property in annual results later this month, according to estimates by analysts at Barclays. The writedown on the value of Tesco’s stores will reflect the fact they are suffering from falling sales.