AddThis

Report: Tesco exploring options for Fresh & Easy

New York -- British grocery giant Tesco is moving closer to selling off its U.S. Fresh & Easy division, with Tesco CEO Philip Clarke traveling to the United States next week to try and strike a deal, according to a report in the British newspaper, The Telegraph.

Tesco has held discussions with Trader Joe’s and others about selling Fresh & Easy, but a break-up of the business is considered the most likely option, the report said. Other options include closing the business and selling off assets.

Clarke is set to give an update on the progress of the company’s previously announced strategic review of Fresh & Easy on April 17, when the company posts its full-year results.