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Tuesday 21 August 2018

Tesco chiefs may be grilled

bad day for

British lawmakers might want to grill top executives at Tesco about the overstatement of profits that has thrown the world's third-biggest retailer into turmoil, BBC radio reported yesterday.

Adrian Bailey, chairman of the UK parliament's Business, Innovation and Skills (BIS) select committee, said that past and present executives could be asked to explain the company's overstatement of its first-half profits by £250m (€317m).

The error wiped over £2bn (€2.55bn) off Tesco's market value.

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