A&P Supermarket Chain To File For Bankruptcy
After serving the area for 156 years, it looks like the Great Atlantic and Pacific Tea Company, better known as A&P, will be filing for bankruptcy.
According to The New York Post, the parent of popular food store brands such as A&P, Walbaums, The Food Emporium, and Pathmark could be filing for Chapter 11 this week. They say the company could be getting a "pre-packaged" bankruptcy which will automatically divide the company into appropriate parts for sale.
The chain currently has 110 locations in the NY Tri-Sate Area, including all over Westchester, Putnam and Danbury. Analysts say this could officially be the end of the chain as we know it.
The NY Post also says that A&P has hired Evercore Partners. They are an investment bank that specializes in selling assets, according to some sources.
A&P is one of those stores that's been around for so long, that it would be hard to think about food shopping without them. This is going the same way Grand Union did...One too many Chapter 11's, and the final one ended it all.