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Last Updated: Tuesday, 22 April, 2003, 15:36 GMT 16:36 UK
Jobs safe after supermarket sale
Tesco supermarket
Tesco recently reported annual profits of 1.4b
More than 350 people have been told their jobs at a Teesside supermarket are safe, despite the store being sold.

The full and part-time workers at the Savacentre store, in Stockton, will all be offered jobs by new owners Tesco.

The supermarket, currently owned by Sainsbury's, will close on 7 June before re-opening as a Tesco Extra later in the summer.

This is the second change of name over the doors of the store on the north-western fringe of Stockton.

It originally opened as a North Eastern Co-op but changed hands in November 1995, becoming Sainsbury's second Savacentre store in the North East.

Kevin Plant, Sainsbury's regional business manager, said sales had been declining in Stockton for a number of years.

He said that had prompted what he called a difficult decision to sell to another supermarket chain.

Tesco, the UK's biggest supermarket group, recently reported annual profits of 1.4b and said it was creating 20,000 new jobs throughout all their stores.




SEE ALSO:
Tesco celebrates profits boom
08 Apr 03  |  Business
Tesco would be 'bad for town'
19 Mar 03  |  England
Tesco tops up pension scheme
19 Feb 03  |  Business


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