A&P gets $1 million offer for Pathmark IP
A&P gets $1 million offer for Pathmark IP
The Great Atlantic & Pacific Tea Co. Inc. has received a $1 million offer for its Pathmark intellectual property assets. Last week K-50-15 Corp., a subsidiary of Foodtown operator PSK Supermarkets, and A&P submitted the offer for approval in the U.S. Bankruptcy Court, Southern District of New York.
The intellectual property includes the domain pathmark.com as well as the Pathmark Twitter and YouTube accounts. In addition to Pathmark, other trademarks included in the deal are Chefmark, Big Deals, Sav-A-Center and the Pathmark Gospel Choir Competition.
A 2010 settlement agreement with The Path Outfitters LLC would transfer to K-50-15 Corp. In the settlement Pathmark agreed “not to use, seek to register or register, or authorize others to use, seek to register or register” trademarks or logos for sporting goods, outdoor equipment or apparel.
Last month, A&P accepted a stalking horse offer of $1.75 million from Key Food Stores to acquire The Food Emporium banner and related brands. The acquired assets included The Food Emporium banner, trademarks, domain names, e-commerce business and fully developed mobile application.