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Fresh & Easy to Close 50 Unsold Stores in the Next Two Weeks

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Now that the bulk of its U.S. real estate holdings have been purchased by the Yucaipa Cos., Tesco seems to want a quick and clean exit from the U.S. market. Supermarket News reports the British retailer will close its remaining 50 stores in the next two weeks. It will continue to market them for sale, but will cease operating the Fresh & Easy business.

Whether someone will want to buy the leftover stores remains a question mark, as Tesco's site selection strategy has been partially blamed for its lack of success in the U.S.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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