BOTH Tesco stores in Chepstow have escaped the recently announced store closures and will remain open in plans unveiled on Wednesday 28th January.

The Tesco Superstore on Station Road and Tesco Express in Bulwark have survived the round of closures announced on 8th January by the supermarket firm, with 43 stores now confirmed to shut.

The cost cutting measures, which involve store and office closures alongside job cuts, were announced early in January to combat falling profits.

Tesco has announced a number of profit warnings during the last financial year, with estimated profits now not expected to exceed £1.4 billion, down significantly from figures in excess of £3b seen a couple of years ago.

The confirmed closures were announced almost three weeks after the initial statement from Tesco about its plans, so that the company could inform staff first.