Fresh & Easy Neighborhood Markets has decided to close or sell its remaining stores.
The Torrance, CA-based grocer has 97 remaining stores ranging from 12k SF to 45k SF in California, Nevada and Arizona and operates a 682k SF distribution center in Riverside. The chain has struggled since beginning operations in 2007 as part of a US expansion by British grocer Tesco and closed dozens of stores before being acquired out of bankruptcy by The Yacaipa Cos. The company has been considering a second bankruptcy, but decided a wind-down was the best course of action, CoStar reports.
Despite the struggles of Fresh & Easy, all is not bleak in the world of grocery stores. Just last month, grocery chain Albertson’s announced plans for an IPO in which it expects to raise $1.8B. [CoStar]
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