2013 horse meat scandal next day, 15 January 2013, the FSAI advised the five retailers concerned, Tesco, Dunnes Stores, Aldi, Lidl and Iceland, of their findings; all these firms withdrew the offending products. The media and newspapers of 16 January 2013 led with the story, focusing on the one burger which tested positive for 29% equine DNA. Another significant investigation into the horse meat affair in Ireland by Ireland’s Department of Agriculture, published its findings in March 2013. This report’s investigation “concluded that there is no evidence that Silvercrest knowingly purchased horsemeat” In the UK, a House of Commons Select Committee on Environment, Food
Tesco profits by £250 million. The misreporting resulted in almost £2.2 billion being wiped off the value of the company’s stock market value. The suspended executives included former commercial director Kevin Grace and UK managing director Chris Bush. The profit overstatement was subsequently revised upwards to £263 million following an investigation by the accountancy firm Deloitte, and it was clarified that the inflated profit figure was the result of Tesco bringing forward rebates from suppliers. The Serious Fraud Office (SFO) confirmed on 29 October 2014 that it was carrying out a criminal investigation into the accounting irregularities but declined to give