Co-op admits unlawful land deals blocking rival supermarkets [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
The Competition and Markets Authority (CMA) said it was concerned by the “very large number of breaches” by the supermarket chain. Rules that have been in force since 2010 stop large grocery retailers imposing land restrictions that prevent rivals opening competing stores in the local area. The CMA has taken action against other supermarkets in recent years, including Tesco for 23 breaches, Sainsbury's for 18, and Morrisons for 55. Tesco, the UK's largest supermarket, ran into trouble with the watchdog in 2020 for leaning on its landlords not to rent nearby sites to rivals for up to a decade. And in 2022 Waitrose admitted it signed deals with landlords to prevent new stores being opened on the same block. The number of restrictive agreements th
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