Fresh & Easy Closing

Fresh & Easy (El Segundo, Calif.) announced that it is closing its business, due to insufficient cash and not being to obtain financing that has hindered it from being able to continue operating.

The company, which operates 97 stores throughout California, Nevada and Arizona, is looking for potential buyers to acquire the brand.

Stores are in the process of being liquidated and will be closed over the next few weeks, reports The Los Angeles Times.

The chain, which was launched in the U.S. by Tesco (Cheshunt, England) in 2007, has not been profitable and filed for Chapter 11 bankruptcy protection in 2013.