36 more A&P stores sold, 72 on auction block this week
36 more A&P stores sold, 72 on auction block this week
The Great Atlantic & Pacific Tea Co. held an auction for certain stores on Oct. 1 and 2. The auction resulted in 36 stores receiving successful bids from a variety of companies, including Key Food Stores Co-Operative Inc., Wakefern Food Corp. and Stop & Shop.
At this time, terms of the agreements have not been announced. Other successful bidders were King Kullen Grocery, K.A.M. Food Store Inc., H Mart Inc., Estevez Markets, Fransula Foods and The Supermarket Co. LLC.
The bidding for 72 remaining stores in New York, New Jersey and Pennsylvania was adjourned until a second auction, which is scheduled for Oct. 8.
When A&P filed for chapter 11 bankruptcy protection on July 19 the company was operating roughly 300 stores. Upon filing for bankruptcy protection the company closed 25 locations and has been working to sell remaining stores since.
Last month Acme Markets Inc. and Stop & Shop purchased almost 100 stores at roughly $370 million.