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Fresh & Easy

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USA-CA

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Sponsor Summary
Fresh & Easy Neighborhood Market is a chain of grocery stores in the western United States, headquartered in El Segundo, California. Since November 2013 it is owned by Yucaipa Companies. It was a subsidiary of Tesco, the world's third largest retailer, based in the United Kingdom. It had plans for rapid growth– the first stores opened in November 2007 and, after a pause in the second quarter of 2008, the opening program recommenced. While there were over 200 stores in Arizona, California, and Nevada by December 2012, Tesco confirmed in April 2013 that it was pulling out of the US market, at a reported cost of £1.2 billion. On September 10, 2013, Tesco announced they were transferring ownership and operations of more than 150 stores to supermarket-owner Ron Burkle's Yucaipa Companies group. Despite selling the stores, there will be a continued friends card program . Fresh & Easy Neighborhood Market Inc. filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court at the beginning of October 2013. The sale will cost Tesco £150m, taking the total cost of its failed US venture to nearly £2bn.

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