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Parent company considering sale of Fresh and Easy markets, U.S. exit

1:48 PM, Dec 5, 2012   |    comments
Fresh and Easy market (Courtesy: Getty Images)
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SACRAMENTO - British food giant Tesco Plc, who owns Fresh and Easy supermarkets, is considering selling off the chain and pulling out of the country entirely.

Tesco released a statement Wednesday, declaring it was likely to pull out of the U.S. market, as its U.S.-based stores were too heavy of a financial burden.

According to the Los Angeles Times, "Tesco has already received inquiries from companies interested in acquiring all or part of Fresh & Easy."

Tesco chief executive, Phillip Clarke, declared in the press release, "Whilst the business has many positives, its journey to scale and acceptable returns will take too long relative to other opportunities."

There are seven Fresh and Easy locations in Sacramento and the surrounding areas. No statement was provided on the future of those stores.

News10/KXTV

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