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Tescos goes bust

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http://www.theguardian.com/business/2013/oct/01/tesco-us-chain-fresh-easy-bankruptcy

Well not quite but the US venture has been dumped into chapter 11

There was a time when most blue chip names would back out of failed markets in an honourable manner believing that leaving creditors high and dry would damage their good name. I suspect that Marks and Spencer did so when it pulled back from a number of markets a few years back. Arguably Fresh and Easy is not immediately associated in the wider publics view as a name associated with Tescos but the question might be whether they would have done the same if Fresh and Easy was “Tescos USA” or some such. 

Or maybe we already know the answer to that

 

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