British retailer plans to mothball 6 Valley grocery stores - East Valley Tribune: Business

British retailer plans to mothball 6 Valley grocery stores

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Posted: Thursday, October 7, 2010 10:05 am

The British owner of Fresh & Easy Neighborhood Markets has announced plans to close six stores in the Valley -- and all but one are in the East Valley.

Tesco PLC says the stores are located in areas where home construction has ended and foreclosures are soaring. The company said the closures were temporary until the economy recovers.

The Arizona Republic reported that the stores set for closure include three in Mesa, two in Gilbert and one in Glendale.

The company employs about 560 people in Arizona and will have 28 stores in the area after the closures. KTAR reports that employees of the affected locations will be offered jobs at nearby stores.

With backing from billionaire Warren Buffett, Tesco entered the U.S. with its small, no-frills grocery stores in 2007 just as the housing industry was blowing up and the economy was heading south.

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