Tesco’s struggling Fresh & Easy chain, which opened in 2007 and has failed to make a profit, appears to be weighing its exit options, the UK Telegraph reported.
The chain reportedly has held talks with rivals Aldi and Trader Joe’s.
Tesco Chief Executive Philip Clarke in December called for a strategic review of Fresh & Easy, saying he would update the market on the progress of the strategic review on April 17, when the retailer posts its full-year results.
Tesco’s options include selling Fresh & Easy to a rival, selling off a stake in the business, or closing the business and selling the various assets individually. Already, Tesco has reportedly begun selling Fresh & Easy refrigeration units.