A&P Selling 25 Super Fresh Stores
The Great Atlantic & Pacific Tea Co.Inc. is planning to sell 25 Super Fresh stores in Maryland, Delaware and the District of Columbia as the financially embattled grocer continues to execute its comprehensive financial and operational restructuring strategy.
Of the stores to be sold, 22 are in Maryland, two in Delaware and one in the District of Columbia. Montvale, N.J.-based A&P, which filed for Chapter 11 bankruptcy protection in December 2010, hopes to complete the sales by mid-June, pending court approval.
“The company has been working hard to implement our turnaround strategy since last year,” noted A&P president and CEO Sam Martin. “As part of our ongoing review of our store footprint, we determined that these 25 Super Fresh locations are outside A&P’s core market. While the decision to put these non-core stores up for sale will unfortunately impact some of our customers, partners, communities and associates, this is a necessary step in our efforts to restore the company to long-term financial health.”
According to Martin, service would continue as normal at the affected stores during the sale process, and he urged loyal customers to keep shopping at those locations.
The grocer’s Super Fresh stores in New Jersey, Pennsylvania and the Maryland/Delaware shore area aren’t being put up for sale.
A&P operates 395 stores in eight states and the District of Columbia under the following banners: A&P, Waldbaum’s, Pathmark, Best Cellars, The Food Emporium, Super Fresh and Food Basics.