London, Tesco executives describe as exaggerated a report that criticized large food chains. The report, from the All Party Parliamentary Small Shops Group, painted a bleak picture for the future of independent retailers in the United Kingdom. Tesco said it disagreed with the findings of The High Street Britain 2015 report suggests that if the big four chains—Tesco, Asda, J. Sainsbury and Wm Morrisson— are not brought under increased regulatory control, the traditional cornershop will disappear in 10 years.
The final report is expected to be published later this month or in February.
According to the Independent newspaper, a Tesco spokesman responded: “Ultimately, it will be the consumer who will decide the shape of the high street in the future. Our market share is no protection. Just over 10 years ago, Sainsbury was the market leader.”