The San Francisco Chronicle (story) and Los Angeles Magazine (story) published news today that Fresh & Easy is considering closing all 200 stores in the United States. In the meantime, Fresh & Easy stores are staying open. The grocery chain opened a store at 336 N. Milpas Street last June and has been planning to open a second location in Goleta in 2013. Here is a snippet of news from the Chronicle:
British supermarket chain Tesco is considering closing down its 200 American Fresh & Easy grocery stores – 19 in the Bay Area – after they failed to deliver acceptable shareholder returns, the company announced Wednesday.
“Whilst the business has many positives, its journey to scale and acceptable returns will take too long relative to other opportunities,” Phillip Clarke, Tesco’s chief executive, said in a written release.
The firm said it will conduct a strategic review of the U.S. grocery chain before making a final decision, which could include selling off the stores instead of shutting them down. Company officials say they have been approached by a number of parties interested in acquiring either some or all of the business, or partnering with Tesco.
In the meantime, Fresh & Easy stores are staying open.
“Our focus remains on our people and our customers,” said Brendan Wonnacott, director of Fresh & Easy’s corporate affairs. “It is business as usual in our stores.”