"Fresh & Easy store operations in U.S. undergoing strategic review, Tesco says" [View all]

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FYI...incase other folks in California missed this...note other articles said a sale OR closing down all 200 stores.

"Fresh & Easy store operations in U.S. undergoing strategic review, Tesco says"

By Muhammed El-Hasan Staff Writerdailybreeze.com
Posted: December 5, 2012 10:44 PM GMT

Tesco announced Wednesday that it is conducting a strategic review of its money-losing El Segundo-based chain that could result in sale of the unit.

The announcement comes five years after Tesco opened its first store in Los Angeles.

"It is now clear that Fresh & Easy will not deliver acceptable shareholder returns on an appropriate time frame in its current form," the company said in a statement.

Tesco has hired investment bank Greenhill to help review options. The British retailer said that in recent months it has received "a number of approaches" from potential suitors interested in buying all or part of Fresh & Easy or partnering with Tesco to develop the chain.

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http://www.dailybreeze.com/news/ci_22130206/fresh-easy-store-operations-u-s-undergoing-strategic