Fresh and Easy grocery chain for sale or closing
Updated On: Dec 06 2012 11:02:33 AM CST
"Fresh and Easy" grocery stores around the country could soon be going out of business.
The market chain has 165 stores in California, including five locations here in the Coachella Valley.
The grocers parent company is Britain based "Tesco", the world's fourth largest food retailer.
Phillip Clarke CEO for Tesco plans to sell the stores and leave the United States all together.
He says multiple parties have approached Tesco with an interest in buying all or part of Fresh & Easy or becoming a partner.
The stores will shut down if a buyer is not found.
The company says the "Fresh and Easy" chain has not been profitable since opening in 2007.
David Livingston, a Milwaukee-based retail analyst says, "Fresh & Easy made a lot of promises that raised consumers' expectations." He went on to say, "They tried to sell the consumer that they would have Whole Foods quality with Walmart pricing. That never came to pass."
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