A report published Thursday in the Los Angeles Times estimated that U.K.-based Tesco has lost up to $2 billion in its failed Fresh & Easy California venture. Tesco had placed the troubled grocer on the sales bloc in December following the departure of Fresh & Easy CEO Tim Mason.
Tesco placed its U.S. supermarket business Fresh & Easy on the sales bloc Wednesday, in conjunction with an announcement that Fresh & Easy CEO Tim Mason has left the company.
Tesco's U.S. subsidiary Fresh & Easy said it's looking to fill more than 100 employee positions, including positions for four new California stores, the company announced Thursday.