.

Fresh & Easy Express Stores May Be Sold or Closed by Parent Company

The British-based grocery chain Tesco is conducting a "strategic review" of its Fresh & Easy stores, but for now it's business as usual at the Encino location.

Fresh & Easy stores in Southern California and beyond will possibly soon be closed or sold by British parent company Tesco, according to a report in the Wall Street Journal.

“Whilst the business has many positives, its journey to scale and acceptable returns will take too long relative to other opportunities. I have therefore decided to conduct a strategic review of Fresh & Easy, with all options under consideration" Tesco chief executive Philip Clarke said in a press release issued by the company.

"We’re considering all options for the business, but it’s likely that the review will lead to Tesco exiting the U.S. market," wrote Clarke in a blog post on the company website.

The decision by Tesco to depart the U.S. does not necessarily mean the closure of Fresh & Easy, though. The Tesco press release stated that "we have had a number of approaches from parties interested in acquiring either all or part of Fresh & Easy, or in partnering with us to develop the Fresh & Easy business."

According to Brendan Wonnacott, director of corporate affairs for the store, it will be "business as usual" at the store locations while the company undertakes its review.

Encino residents and workers watched the new Fresh & Easy Express location rise up on the site of the old Rite Aid store on Ventura on the corner of Haskell over the course of the summer, and it finally opened its doors in October with a grand opening event.

As well as Encino, the chain also has locations in Manhattan Beach, Hermosa Beach, Palos Verdes Estates, Long BeachPico-Robertson, Hollywood, Northridge, Eagle Rock, Oak Park, North Hollywood, Van Nuys, and many more.

For more Patch stories on the Encino Fresh & Easy Express store, click on the links below.

Fresh & Easy Express Opens on Ventura Boulevard

Fresh & Easy Express Hiring in Encino

Fresh & Easy Express Set to Open Oct. 24

Construction on the Old Rite Aid Site Continues

SO_CAL_RETAIL_SLUT December 07, 2012 at 05:20 AM
Now that Fresh & Easy's London-based parent, Tesco is pulling the plug on it's ill-fated United States grocery expedition, what would you like to see take the place of the recently opened Fresh & Easy store site? This Fresh & Easy Express location should close in sometime in January, no later than the end of February. As of today, no one has expressed interest in the Encino location, primarily because of it's small size. German-based Aldi (and parent company of Trader Joe's) is expected to take the majority of the traditional-sized Fresh & Easy locations, with a scattered few going to the likes of the expanding Family Dollar and Dollar General chains, while other locations will just close. The Encino location is just too small for an Aldi store, let alone of it's Trader Joe's stores to take the place of the soon to be shuttered Fresh & Easy Express location. By the way, have any of you shopped the F&E Express Encino location? Any thoughts? Do you like/dis-like the concept? SO_CAL_RETAIL_SLUT

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »