So maybe it was a not-so-grand experiment.
In an increasingly globalized world, one where IKEA is seeminglyin every nation on Earth and Walmart is getting there, why wouldn'tBritish supermarket giant Tesco succeed in opening markets in theUnited States?
On paper, opening small grocers to serve a time-pressed populaceseemed like a great idea—go in, grab it and leave. But in thelatest step in its plan to exit the United States, Tesco's Fresh& Easy chain filed for bankruptcy protection on Monday. Themove eases the sale of 150 stores at auction to theever-growing Yucaipa Cos. byallowing Fresh & Easy to exit a number of highly overpricedleases prior to the court-mandated auction. According to theLos Angeles Times, a number of stores have already closed.
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