Dive Summary:

• UK grocery chain Fresh & Easy has folded and will leave the U.S. after a five year stint in the U.S. market.
• The exit from the United States comes after reviewing profits and losses for 2012 and will cost billions of dollars for its parent company, Tesco, who is looking to sell its 200 stores in California, Arizona and Nevada.
• Tesco cites the lack of sales, full service check outs, and readymade meals as factors contributing to the lack of profitability.
   

From the article:

Fresh & Easy, which employs 5,000 people, failed to make any money during its run. To abandon the project, Tesco said Tuesday it will take a write-off of 1.2 billion pounds – or $1.8 billion