No last-minute reprieve for the Fresh & Easy grocery chain, the latest victim of the very competitive U.S. market. After the company filed for chapter 11 bankruptcy at the end of last month, all the stores are being closed — today is the last day. Over the past couple of weeks, prices have been slashed until now the discounts are at least 70 percent!
If the other Fresh & Easy markets are anything like the one at 1615 West Verdugo Avenue in Burbank, the pickings are pretty thin for shoppers. Earlier this week, I saw employees packing up and shipping out a lot of the products in the Verdugo store.
Still, die-hard bargain hunters hit this store before 9 a.m. this morning. Some were seen leaving with bags filled with purchases. A sign at the front door says closing is 9 p.m., but the store could be stripped bare long before then.
This is the second time Fresh & Easy has filed for bankruptcy in two years. El Segundo-based Yucaipa Cos bought 167 stores from a bankruptcy filing by British Tesco in 2013. Yucaipa, backed by billionaire Ron Burkle, has been unloading low performing stores for months, however, that apparently was not enough to save the struggling chain.