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Report: Tesco U.S. experiment not so Fresh & Easy
LOS ANGELES — U.K.-based Tesco has lost up to $2 billion in its failed Fresh & Easy California venture, according to a report by the Los Angeles Times — Tesco had placed the troubled grocer on the sales bloc in December following the departure of Fresh & Easy CEO Tim Mason.
The retailer's struggles can be traced to labor unions and an ambitious investment into an 850,000-sq.-ft. distribution center that placed pressure on the 200-store chain to expand rapidly, according to the LA Times report.