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BUSINESS
December 5, 2012 | By Shan Li
British supermarket giant Tesco said it is considering selling its Fresh & Easy Neighborhood Market stores and will probably leave the United States altogether. The sprawling retailer, which owns more than 6,000 stores worldwide, has already received inquiries from companies interested in acquiring all or part of Fresh & Easy, Tesco said Wednesday in a statement.  Fresh & Easy's chief executive, Tim Mason, is also leaving after three decades at Tesco, the company said. The Fresh & Easy chain launched in 2007 with much fanfare and high ambitions of creating a network of hundreds of smaller-format stores on the West Coast.
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BUSINESS
September 30, 2013 | By Tiffany Hsu
Fresh & Easy Neighborhood Market Inc. filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court, weeks after being promised to Los Angeles billionaire Ron Burkle. The grocery chain, which is in the process of trading hands from British supermarket giant Tesco to Burkle's Yucaipa Cos., cited debt between $500 million and $1 billion in its court filing Monday. The move “is simply the next step in the restructuring process” during the sale and will have “no impact” on customers' shopping experience, Fresh & Easy said in a statement.
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BUSINESS
September 30, 2013 | By Tiffany Hsu
Fresh & Easy Neighborhood Market Inc. filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court, weeks after being promised to Los Angeles billionaire Ron Burkle. The grocery chain, which is in the process of trading hands from British supermarket giant Tesco to Burkle's Yucaipa Cos., cited debt between $500 million and $1 billion in its court filing Monday. The move “is simply the next step in the restructuring process” during the sale and will have “no impact” on customers' shopping experience, Fresh & Easy said in a statement.
BUSINESS
September 10, 2013 | By Stuart Pfeifer
Ron Burkle, who became a billionaire reviving faltering supermarket chains, will try to turn the money-losing Fresh & Easy stores into a profitable venture. Burkle's Yucaipa Cos. has agreed to buy the El Segundo chain for an undisclosed amount from British supermarket giant Tesco, which is bailing from the U.S. scene after losing about $2 billion over five years. Yucaipa will acquire more than 150 of Fresh & Easy's 200 mostly Southern California stores and its Riverside distribution and production facilities, keeping more than 4,000 employees.
BUSINESS
December 6, 2012 | By Shan Li
British supermarket giant Tesco may soon be bidding bon voyage to its American problem child. Five years after the company landed in California and opened 200 stores across the West, Tesco said it is preparing to sell its struggling Fresh & Easy Neighborhood Market chain and retreat from the U.S. market altogether. "It's likely, but not certain, that our presence in America will come to an end," Tesco Chief Executive Philip Clarke during a Wednesday conference call from Los Angeles.
BUSINESS
April 17, 2013 | By Tiffany Hsu, Los Angeles Times
The British are leaving. Five years after launching the Fresh & Easy grocery chain in the U.S., Tesco of England is abandoning its nearly $2-billion gamble. Once called "foolhardy" by investment guru Warren Buffett, the ambitious experiment joins a sizable list of British ventures forced to admit defeat amid an American culture clash. The failure of El Segundo-based Fresh & Easy Neighborhood Market, hastened by the recession, also highlights the difficulties of maintaining a foothold in a domestic grocery market already overrun by established, homegrown mega-brands such as Wal-Mart, Costco, Whole Foods and Trader Joe's.
BUSINESS
January 11, 2012 | By Shan Li, Los Angeles Times
Like the redcoats of yesteryear, British retail giant Tesco is finding America hard to win over. Seven California grocery stores are among 12 underperforming locations nationwide to be closed by Tesco's Fresh & Easy Neighborhood Market in an effort to boost profitability. The stores in California — in Anaheim, Bakersfield, Baldwin Park, Fountain Valley, Fresno, Hemet and Ontario — will close within the next few weeks, along with four stores in Phoenix and one in Las Vegas, company spokesman Brendan Wonnacott said.
BUSINESS
June 13, 2013 | By Tiffany Hsu, Los Angeles Times
Wild Oats Markets Inc., the closed purveyor of organic and natural foods, is planning a comeback this year, potentially aided by local billionaire Ron Burkle. The company, which has been out of operation since 2007, now says on its website that it is "re-introducing" its brand, bringing beverages, snacks, cereals, pasta and other goods to store shelves. Burkle's Los Angeles private equity company Yucaipa Cos. seems to be involved. A trademark application filed by Wild Oats Marketing last June and published for opposition in late May lists Yucaipa's Sunset Boulevard address.
BUSINESS
April 10, 2012 | By Walter Hamilton, Los Angeles Times
It's been anything but easy for the Fresh & Easy Neighborhood Market grocery chain. Already grappling with a soft economy and its own strategic missteps, the El Segundo-based supermarket chain suddenly has to deal with a burst of pressure being applied to its British parent company, Tesco. Large shareholders are calling for the British retail giant to take dramatic action to turn around its own recently poor performance, including pulling back from Fresh & Easy, its ambitious 5-year-old start-up that is trying to blanket California with midsize supermarkets.
BUSINESS
February 25, 2013 | By Tiffany Hsu
This post has been updated. See below for details. Burger King, Nestle, Tesco and now Ikea - the European horse meat scandal that has heightened food supply concerns for the last month has now reached the furniture giant's famed Swedish meatballs. Inspectors in the Czech Republic said Monday that they found equine evidence in the chain's frozen meatballs. The affected product was sold as a packaged beef and pork item in more than a dozen European countries but not in the U.S.   The Czech State Veterinary Administration confirmed on its website that samples of the meatballs, which are made in Sweden, contained horse DNA. Shipments of the meatballs have been suspended, according to the agency, which said it sent its findings to European Union authorities.
BUSINESS
July 15, 2013 | By Tiffany Hsu
Arden Group Inc., the Compton parent of the upscale Gelson's Markets chain, said Monday that it is considering selling the company or looking into other options. Board members “initiated a process to explore and evaluate strategic alternatives, which may include a possible sale,” the company said in a statement. Arden, which owns 16 Gelson's across Southern California, said it retained Moelis & Co. as its sole financial adviser during the review. The supermarket chain said it hadn't made a decision to pursue any specific moves and said it had “no defined timeline” for its evaluation.
BUSINESS
June 13, 2013 | By Tiffany Hsu, Los Angeles Times
Wild Oats Markets Inc., the closed purveyor of organic and natural foods, is planning a comeback this year, potentially aided by local billionaire Ron Burkle. The company, which has been out of operation since 2007, now says on its website that it is "re-introducing" its brand, bringing beverages, snacks, cereals, pasta and other goods to store shelves. Burkle's Los Angeles private equity company Yucaipa Cos. seems to be involved. A trademark application filed by Wild Oats Marketing last June and published for opposition in late May lists Yucaipa's Sunset Boulevard address.
BUSINESS
April 17, 2013 | By Tiffany Hsu
Tesco PLC's ambitious U.S. experiment -- 5-year-old grocery chain Fresh & Easy -- has failed after costing its British parent billions of dollars, the company said Wednesday. After a strategic review of the brand in the last year, during which Tesco had indicated it might limp back across the pond to lick its wounds, the largest British grocer confirmed its “ exit from the United States .” Tesco will attempt to sell Fresh & Easy and its 200 stores in California, Arizona and Nevada.
BUSINESS
April 17, 2013 | By Ricardo Lopez
Think Wall Street interns are the best paid? Think again. A recent survey by Glassdoor.com found that the highest-paid interns work for technology and oil companies. Taking the top spot is VMWare, a Palo Alto company that specializes in cloud computing. Its interns earn a monthly base pay of $6,704. Quiz: How much do you know about Google ? Assuming an intern works 40 hours a week, that translates to about $39 an hour. Not too shabby. Interns at EBay, the online auction retailer, were the next best paid, making $6,500 a month.
BUSINESS
April 17, 2013 | By Tiffany Hsu, Los Angeles Times
The British are leaving. Five years after launching the Fresh & Easy grocery chain in the U.S., Tesco of England is abandoning its nearly $2-billion gamble. Once called "foolhardy" by investment guru Warren Buffett, the ambitious experiment joins a sizable list of British ventures forced to admit defeat amid an American culture clash. The failure of El Segundo-based Fresh & Easy Neighborhood Market, hastened by the recession, also highlights the difficulties of maintaining a foothold in a domestic grocery market already overrun by established, homegrown mega-brands such as Wal-Mart, Costco, Whole Foods and Trader Joe's.
BUSINESS
March 21, 2013 | By Shan Li, Los Angeles Times
British supermarket giant Tesco thought it had the Yanks all figured out. Determined to crack the U.S. market, it dispatched executives to live with American families, peek into their refrigerators and trail them on trips to the grocery store. It boasted of revolutionizing how Americans shopped. But slightly more than five years after it opened its first Fresh & Easy Neighborhood Market in California, Tesco is considering selling the money-losing chain and leaving the United States altogether.
BUSINESS
October 7, 2009 | Jerry Hirsch
Fresh & Easy Neighborhood Market's trademark apple logo may be green, but the chain of small grocery stores is bleeding red ink. Tesco, the British parent of the 130-store company, said Tuesday that its American division would lose about $259 million this year, or about $2 million for each of its stores. Fresh & Easy is struggling with the overhead of a large infrastructure designed to support hundreds of stores and a price war that has broken out in the supermarket industry.
OPINION
November 9, 2007
Re "Filling in 'food deserts,'" Opinion, Nov. 5 The last time I checked, markets -- whether they be Vons, Tesco or liquor stores -- are businesses, not government agencies. Yet this article has a subtext -- that stores need to service poor neighborhoods. They don't. The reason that big food chains pulled out of these areas is blatant. The only obligation that any business has is to provide a safe environment for its employees and show a profit.
BUSINESS
February 25, 2013 | By Tiffany Hsu
This post has been updated. See below for details. Burger King, Nestle, Tesco and now Ikea - the European horse meat scandal that has heightened food supply concerns for the last month has now reached the furniture giant's famed Swedish meatballs. Inspectors in the Czech Republic said Monday that they found equine evidence in the chain's frozen meatballs. The affected product was sold as a packaged beef and pork item in more than a dozen European countries but not in the U.S.   The Czech State Veterinary Administration confirmed on its website that samples of the meatballs, which are made in Sweden, contained horse DNA. Shipments of the meatballs have been suspended, according to the agency, which said it sent its findings to European Union authorities.
NEWS
January 15, 2013 | By Betty Hallock
A disturbing discovery has led some consumers to wonder "Where's the beef?" in their supermarket burgers. The Food Safety Authority of Ireland said it had discovered horse and pig DNA in burgers sold by grocery stores in Ireland and the United Kingdom, according to reports. The finding includes a burger sold by global supermarket chain Tesco that contained 29% horse meat, according to the Associated Press . U.K.-based Tesco -- one of the world's largest food retailers and known in the U.S. under its Fresh & Easy brand -- apologized for the horse meat-laden burger and pulled store brand burgers from groceries in Britain and Ireland, according to AP. A meat processor in County Monaghan was cited by Ireland's Agriculture Minister Simon Coveney for the horse meat burger find, which Coveney told state broadcaster RTE was "totally unacceptable.
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