The company stated that the store’s lease is expiring and will not be renewed because long‑term operation was not economically sustainable, mainly due to the lack of a surrounding residential area that limited traffic.
Tesco will also close its Garam urca store in Budapest’s District IV.
Tesco emphasized that the decision is a one‑off business move and does not affect its nationwide operations, which currently include nearly 200 stores, about half of them hypermarkets.
The retailer noted that it renovated almost 40 stores last year, opened two new locations, and launched its first Premier brand local store, with further modernization and expansion planned for this year.
Tesco added that it aims to offer alternative positions to all affected employees.
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