Frankfurt, Nov 26 - Germany-based coffee shop and retail chain Tchibo is considering exiting the British market, its largest outside its home market, Financial Times Deutschland (FTD) reported on Wednesday, citing unnamed sources.
The business had been burdened by sluggish demand and a recent drop in British consumers' confidence had aggravated the situation, a person familiar with the matter told the German business daily.
No-one at Tchibo was immediately available for comment.
A Tchibo spokesman told FTD Tchibo had decided to close more British outlets than initially planned. "The British retail market is experiencing turbulent times," the spokesman was quoted as saying.
Remaining parts of the business were being "assessed", he added.
Tchibo is owned by some members of the Herz family, which also hold a majority stake in Beiersdorf , the maker of Nivea personal care products.