Breaking News: Tesco store plan for Mablethorpe is shelved

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A Tesco supermarket will not be built in Mablethorpe after the retailer scrapped plans for a store amid falling profits.

The supermarket giant today (Thursday) announced plans to shelve the build of 49 new stores across the UK and includes the store in Mablethorpe.

Dave Lewis, chief executive officer, said: “It is with a heavy heart that I am today announcing that we are unable to proceed with 49 planned new store developments across the UK, including our planned store in Mablethorpe.

“Our performance as a business has fallen significantly short of where we would want it to be and my absolute imperative has to be to protect the future of our business for the 300,000 colleagues we employ in communities all over the UK.

“I know that this news will be a real disappointment to many people in the local community and we’re extremely grateful for the support we’ve received for our plans.

“I am very aware of the importance of the site to the area and I am determined that we will work closely with East Lindsey District Council to find the right solution for the local community.”