updated - October 1, 2020 Thursday EDT
Fresh & Easy, a struggling grocery chain, is beginning the process of winding down its business operations, according to a report from The Orange County Register.
The company, though, is still looking for buyers to sell part or all of its locations and operations.
The Orange County Register adds that Fresh & Easy will be liquidating all of its stores in the coming weeks.
Some of its locations will be closed while others will be sold.
The Orange County Register adds that Brendan Wonnacott, a spokesman for the company, said in a statement that the company is unable to continue the business.
"Over the last two years, we have been working hard to build a new Fresh & Easy," he said. "hile we made progress on stemming our losses and moving the business closer to break even, unfortunately, we have been unable to obtain financing and the liquidity necessary to continue to fund the business going forward."
The Los Angeles Times adds that Fresh & Easy has been struggling since the grocery chain debuted in 2007.
Fresh & Easy, which was supermarket giant Tesco's first venture into the U.S., was billed as a grocery chain that offers an assortment of groceries with an emphasis on fresh products.
The Los Angeles Times adds that Fresh & Easy grew to 200 locations but was always unprofitable.
The grocery chain file for Chapter 11 bankruptcy protection in 2013 and was sold to Yucaipa Cos., an investment firm of the grocery billionaire Ron Burkle.
The Orange County Register adds that the purchase of Fresh & Easy includes 167 stores, and distribution and manufacturing facilities in Riverside.
The stores that Yucaipa didn't purchase were closed down.
The Orange County Register adds that 3,000 employees were already sent layoff notices as the company is still trying to sell part or all of its locations and operations.
Fresh & Easy currently has 100 stores in California, Nevada and Arizona.
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