GLASSELL PARK— The struggling Fresh & Easy grocery store chain, which opened one of its first outlets in Glassell Park, is closing down operations as it runs out of cash and has failed to find a buyer for the company, the L.A. Times reports.
The looming shut down comes about two years after Fresh & Easy, which was started by British retailer Tesco, filed for bankruptcy protection and was eventually sold to Southern California billionaire Ron Burkle. The chain, which at one point had about 200 stores, now operates less than 100 outlets, including the Glassell Park store on Eagle Rock Boulevard.
A Fresh & Easy spokesman told the Times that the company lacks sufficient cash and financing to continue operations, with stores expected to be closed over the next weeks. However, the company will continue to look for a buyer, the Times said.
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