Timeline: Tesco's slump to £6.4bn loss

April 2013 Tesco's full-year results are the worst performance in the company's history to date, with pre-tax profit more than halving after £2.4bn of writedowns

April 2014 Tesco confirms that long-serving finance director Laurie McIlwee is to step down after 15 years just days before its full-year results, which show a 7 per cent fall in underlying profits. Philip Clarke, chief executive, insists he is not about to quit. "I have got no intention of going anywhere," he says. "I'm going to see this thing through."

July 2014Another profit warning is announced - and this time, it is accompanied by Mr Clarke's resignation

September 1 2014Dave Lewis takes over at Tesco from Philip Clarke

September 22 Tesco admits that its first-half profits were overstated by £250m - a figure that was later revised up to £263m - and launches a probe into its accounting practices

September 23Mr Lewis is joined at the helm by a new chief finance officer, Alan Stewart, who takes over earlier than his original December 1 starting date

October 29 The UK's Serious Fraud Office launches a criminal investigation into alleged accounting irregularities at Tesco.

December 1 Mr Lewis announces he will take direct control of Tesco's struggling UK business on an interim basis

December 31 Tesco's shares end 2014 with their worst annual performance since 1989

January 8 2015Mr Lewis axes Tesco's dividend and unveils a radical overhaul to cut costs, including closing its Cheshunt head office plus 43 unprofitable stores as well as offloading non-core assets

February 10Market researcher Kantar Worldpanel says Tesco's UK sales returned to growth for the first time since January 2014 during the 12 weeks to February 1

February 17Tesco names John Allan as its new chairman, to take over from Richard Broadbent on March 1

March 24Lawyers in the US set up a vehicle to allow UK and European shareholders wanting to seek damages from Tesco following the profit overstatement to band together and file a joint lawsuit.

April 22Tesco reports a pre-tax loss of £6.38bn, the worst performance in its near 100-year history.

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