TESCO bosses are to be quizzed by Westminster after miscalculating their profits by over £250 million, Adrian Bailey MP announced yesterday.

Parliament’s business, innovation and skills committee chairman Mr Bailey said those responsible might be called in for questioning after what he called “unbelievable” behaviour by Britain’s largest private employer.

An inquiry lead by the committee could well extend to other grocery retailers.

Tesco admitted it had been operating without a finance director for the last five months since Laurie McIlwee handed his notice in April.

“During the transition period, Laurie has in fact not been called upon by Tesco and has not been involved or had any input to any financial matters,” the company said.

Marks & Spencer finance director Alan Stewart has now stepped in — three months before his official starting date.

Accountancy watchdog Financial Reporting Council had previously argued that it is powerless to intervene until internal investigations were completed.

Sports Direct International has in the meantime made a staggering £43m offer for 0.3 per cent of the supermarket shares.

The sports retailer — infamous for employing most of its workers on zero-hours contracts — said the investment “reflects Sports Direct’s growing relationship with Tesco and belief in Tesco’s long-term future.”

The deal comes shortly after one of Tesco’s biggest investors BlackRock sold part of its shares in the business.

joanaramiro@peoples-press.com