Britain's Tesco suspends Thai expansion over retail row
Tesco, Britain's biggest retailer, has agreed to halt its expansion in Thailand temporarily amidst a row with the Thai government and shopowners, Commerce Minister Krirkkrai Jirapaet said Saturday.
Tesco's decision came as some 200 owners of small shops protested against giant supermarkets in the north."Tesco Lotus officially informed me that it would stop expansion for 90 days, starting from November 10," the minister said after meeting with the Thai shopowners. "The decision to give up store expansion is a good sign the firm is willing to work together with the government to solve the problem," he added. Tesco is the latest foreign-owned big retailers, including France's Carrefour and Lotus, that have been locked in a row with local small stores, which complain the giant supermarket chains are driving them out of business. Thailand is Tesco's largest overseas market. The retailer has nearly 300 shops in the country and plans to open 200 more. The Nation
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