The owner of a mini-supermarket chain with a dozen locations in Ventura, and Santa Barbara Counties says it’s dropping the venture.
British supermarket giant Tesco, which tried to gain a foothold in the United States with its “Fresh and Easy” chain, says it’s pulling out of America.
Officials with Tesco say they will try to find a buyer interested in keeping the chain intact, and preserving the jobs of its thousands of employees.
Tesco started the chain five years ago, basing it on its successful chain of small stores in the United Kingdom which are often located near bus, and subway stops.
But, industry analysts say the company underestimated startup costs, and investors didn’t have the patience to give the experiment an extended chance.
There are 12 Fresh & Easy stores in Ventura and Santa Barbara, including 10 in Ventura County. On the chain’s website, the company says there are no plans to close any of their stores right now.