A&P Auctions off 12 Superfresh Stores
The Great Atlantic & Pacific Tea Co. Inc. has auctioned off 12 Superfresh locations as part of the Montvale, N.J.-based grocer’s comprehensive financial and operational restructuring.
The winning bids, which are subject to bankruptcy court approval before the sales are completed, are as follows:
- 10 stores, two in Baltimore and one each in Parkville, Arnold, White Oak, Lutherville, Cambridge, Chestertown and Brunswick, Md., and Washington, to a joint venture between Mrs. Greens Management Corp. and Village Super Markets, the latter of which operates stores under the ShopRite banner, although Keasbey, N.J.-based retail cooperative Wakefern Food Corp., the merchandising and distribution arm of ShopRite stores, has said the only the White Oak and Lutherville stores have been identifed as future ShopRite locations.
- One store in Ellicott City, Md., to Supervalu
- One store in Westminster, Md., to its landlord, Englar Center Limited Partnership.
Additionally, the prescription customer lists of seven Superfresh stores went to three separate bidders: three to Walgreens, three to Safeway and one to CVS.
A&P expects auction proceeds of more than $40 million, a result that president and CEO Sam Martin said “pleased” the company. The grocer anticipates that the court will consider its motions on the proposed sales at a June 14 hearing, and plans to stop operating the 12 auctioned locations by mid-July.
The 13 remaining Superfresh supermarkets that weren’t auctioned off will close by mid-July, subject to court approval, according to A&P.
The company’s Superfresh stores in New Jersey, Pennsylvania and the Maryland/Delaware shore area weren’t included in the bidding process and continue to operate as A&P banner locations.
A&P operates 361 stores in eight states and the District of Columbia under the following banners: A&P, Waldbaum’s, Pathmark, Best Cellars, The Food Emporium, Superfresh and Food Basics.