Source: © www.independent.co.uk21May
With Sainsbury’s axing hundreds of jobs and Tesco reporting record-breaking losses of £6.4 billion – the mighty supermarket chains will have to think smarter on how to turn around their misfortunes.
Biggest losses in UK corporate history:
- Royal Bank of Scotland reported annual losses of £24.1bn in 2008
- Vodafone reported an annual net loss of £21.8bn in 2006
- Vodafone also reported a £13.5bn pre-tax loss in 2002.
- Lloyds Banking Group reported a loss of £8.5bn in 2009 after its 2008 purchase of Halifax Bank of Scotland
- Cable & Wireless announced losses of £6.5bn in 2003
- Tesco reported losses of £6.4bn in 2015
- Source: http://www.bbc.co.uk/news/business-32408661