For the past two weeks, financial analysts have been wondering if Fresh & Easy was about to go into bankruptcy for the second time in three years.
Turns out the answer is no – but only because the struggling West Coast chain is shutting down completely.
Fresh & Easy has announced it will close its 97 remaining stores in Arizona, California, and Nevada, as well as its Torrance, Calif., headquarters.
The closures include the four remaining East Valley locations:
- Kyrene and Ray in Chandler
- Higley and Ray in Gilbert
- Higley and Queen Creek in Gilbert
- Crismon and Guadalupe in Mesa
Layoffs will begin next Friday, Oct. 30.
Backed by British supermarket giant Tesco, Fresh & Easy debuted in 2007. It offered smaller markets (roughly 10,000 square feet) and self-checkout stands to make it easier for customers to quickly grab dinner on the way home.
The chain struggled from the beginning, thanks in part to the U.S. economic recession. It filed for bankruptcy in 2013 and was purchased by Los Angeles billionaire Ron Burkle, who immediately closed about a third of 167 stores.
