Tesco May Be Planning U.S. Exit

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."