A&P Closing 14 Stores
The Great Atlantic & Pacific Tea Co. Inc. (A&P) has filed a motion with the U.S. Bankruptcy Court for the Southern District of New York seeking approval to close 14 underperforming stores in four states as the Montvale, N.J.-based grocer prepares to emerge from Chapter 11. The store closures are expected to be completed in the A&P’s fiscal first quarter, subject to court approval.
“We are continuing to take the steps necessary to position A&P to emerge from Chapter 11 with a strong future and ensure that we remain focused on our top priority -- providing great value and service to our customers every day,” said President and CEO Sam Martin. “While [the store closures were] a very difficult decision that will unfortunately impact some of our customers, partners, associates and the surrounding communities, these actions are absolutely necessary as we continue to strengthen A&P's operating foundation and improve our performance.”
As part of the store closing process, A&P will offer future store assignments based on associates' collective-bargaining agreements. The grocer, which currently operates 336 stores under several trade names in six states, is also asking loyal customers to shop at other A&P banner stores near the affected locations.