Fresh & Easy Grocery Chain Seeks Sale In Ch. 11

Law360, New York (September 30, 2013, 2:53 PM EDT) -- British retail company Tesco PLC’s grocery chain, Fresh & Easy Neighborhood Market, filed for Chapter 11 bankruptcy protection in Delaware court on Monday, paving the way for a proposed sale to Yucaipa Cos. LLC's affiliate YFE Holdings Inc.

In its initial filing, Fresh & Easy estimated that it owes its creditors between $500 million and $1 billion, and has between $100 million and $500 million in assets. Yucaipa's planned acquisition, announced Sept. 10, of over 150 stores and related production and distribution locations includes a loan...
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