Los Angeles Business Journal

Tesco Expected to Leave U.S. Market

Wednesday, December 5, 2012

Tesco is poised to leave the United States after spending five unprofitable years and $1.61 billion on an ill-timed American expansion that became one of the British supermarket giant's biggest-ever failures, the Wall Street Journal reports. Its chief executive said Wednesday that the company will likely sell or close 199 Fresh & Easy stores. Fresh & Easy is headquartered in El Segundo and many of its stores are in Los Angeles County.