We kept noticing a Fresh & Easy that was supposed to open off Valley View in Cypress but never did; now we know why. With at least 200 stores in California, Arizona and Nevada, the chain is likely going to pull out of the US market, leaving upwards of 5,000 employees without jobs.
Tesco, the brand's parent company, previously stated in their April annual report that it was, "building real momentum in Fresh & Easy" with 12 percent like-for-like-growth. So much for that.
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The United Food and Commercial Workers International Union believes they could've avoided the current situation if investors chose to engage with community stakeholders and its customers. In related news, Fresh & Easy CEO Tim Mason just announced that he is leaving Tesco after 30 years of service.
"It is likely, but not certain, that our presence in America will come to an end," stated Tesco CEO Philip Clarke. Maybe if they focused more on tailoring their limited store selection to each region's tastes (and less on prepackaged items in the refrigerated case) they could've thrived. We're thinking Trader Joe's is breathing a small sigh of relief.