German discount food companies are gobbling up the market in the UK.  Aldi and  Lidl are waging war and driving down prices.  This is good for British consumers, but bad for the local food chain Tesca, which used to be Britain’s grocery market chain.

Asda, which is owned by Wal-Mart Stores, has been holding its own.

Tesca is also under investigation by the UK Serious Fraud office for fudging its books.

Internet shopping and delivery to home services have made grocery stores on the outskirts of any town almost suerfluous.

Goldman Sachs, analyszing the situation in Britain, says that stores are going to have to close venues and cut capcacity.