A&P FILES FOR BANKRUPTCY!
Details at SupermarketNews.com
USAToday is reporting that 25 stores are expected to close immediately.
And this from theNYPost.com...
The parent, with its stores stretched across the Northeast, has already struck preliminary agreements to sell or shutter about half of its nearly 300 locations, insiders said. Prospective acquirers aren’t likely to operate many locations under their previous banners, they said. USAToday is reporting that 25 stores are expected to close immediately.
And this from theNYPost.com...
“It’s feeding frenzy, A&P is being picked apart like a corpse,” according to one industry insider. “The company you and your parents knew will be gone.”
As reported by The Post, the Acme Store group of Philadelphia, owned by the parent of Albertsons and Safeway, was in talks last week to acquire nearly 80 of the A&P parent’s locations.
Dutch grocery giant Ahold, owner of Stop & Shop, also has been eyeing stores.
Screen grab of A&P's website...
This doesn't sound good... "Many of our stores are open for business"
Yikes. It would have been bad news if they said
"Most" at this point, let alone "Many"