Tesco Said To Be In Talks To Sell Fresh & EasyMarch 29, 2013
Tesco is reportedly in talks with grocery chains Aldi and Trader Joe’s to sell off its struggling U.S. retail concept, Fresh & Easy. The business, which reported a $115 million loss for the first half of 2012, was put up for sale in December, when Tesco CEO Philip Clarke confirmed that the U.K.-based company would be pulling the plug on its U.S. operations. Should a sale fail to materialize, a break-up of Fresh & Easy’s business is thought likely, reports the U.K.’s Telegraph newspaper. Fresh & Easy currently operates 165 locations in California and 35 across Nevada and Arizona, and stocks more than 450 wines.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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