Tesco puts its US chain into bankruptcy

ref=

ref="http://www.cityam.com/company/tesco">TESCO put its US grocery store chain into bankruptcy yesterday as part of a plan to sell most of the 167 stores to a private equity firm led by billionaire Ron Burkle. Under the proposed sale, an affiliate of Tesco will lend Burkle’s private equity firm Yucaipa $120m to help fund the takeover of the chain, which is named Fresh & Easy Neighborhood Market.