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Tesco May Be Planning U.S. Exit

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Just as Supervalu supermarket chain is finding out buyers may be reluctant to bail it out, British trasplant Tesco is considering selling its U.S.-based Fresh & Easy stores and exiting the country.

Supermarket News reports that Tesco officials feel Fresh & Easy will not deliver desired returns within an acceptable timeframe and are looking through offers to sell their roughly 200 stores to third parties.

According to company CEO Philip Clarke:

“It’s likely, but not certain, that our presence in America will come to an end."

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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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