A&P FILES FOR BANKRUPTCY!
Details at SupermarketNews.com
USAToday is reporting that 25 stores are expected to close immediately.
And this from the NYPost.com...
The parent, with its stores stretched across the Northeast, has already struck preliminary agreements to sell or shutter about half of its nearly 300 locations, insiders said. Prospective acquirers aren’t likely to operate many locations under their previous banners, they said. USAToday is reporting that 25 stores are expected to close immediately.
And this from the NYPost.com...
“It’s feeding frenzy, A&P is being picked apart like a corpse,” according to one industry insider. “The company you and your parents knew will be gone.”
As reported by The Post, the Acme Store group of Philadelphia, owned by the parent of Albertsons and Safeway, was in talks last week to acquire nearly 80 of the A&P parent’s locations.
Dutch grocery giant Ahold, owner of Stop & Shop, also has been eyeing stores.
Screen grab of A&P's website...
This doesn't sound good... "Many of our stores are open for business"
Yikes. It would have been bad news if they said
"Most" at this point, let alone "Many"
And it's the end of an era in the grocery business- the once mighty A&P, whose stores stretched across this nation, is now dying. And Pathmark's once proud legacy is going down with it. But, this could be a significant windfall for Acme, considering they were apparently eyeing 80 stores, hopefully here in North Jersey (although it's likely they'll try to scoop up some southern NJ, PA and DE locations too).
ReplyDeleteWow... A&P, once a mighty giant, now forced to die... Rest in piece, Atlantic and Pacific... Rest in peace...
ReplyDeleteOr should that be rest in piece(s)? ;)
ReplyDeleteAnd, while they're at it buying stores, maybe Acme (or rather their parent company) could pick up the A&P logo and name as well, since after the Safeway merger, they can now claim to be the closest to the "old time" A&P idea of stores from Atlantic to Pacific. Maybe use it as some kind of "special" store brand line?
No more Ann Page and Jane Parker. Sad...
ReplyDeleteMy whole family worked at A&P, myself included. Hell, my parents met there! I lost my job in April of '82, when Philly stores closed. I had another job, so I never went back to Superfresh. Ten years. Just as well, approaching 60, wouldn't want to nbe scrambling again.