A&P Looks for Buyers
A & P continues to seek new owners for its stores — including A&P, Best Cellars, Food Basics, The Food Emporium, Pathmark, Superfresh and Waldbaum’s — as details emerge about store closings. As Living Rich with Coupons reported last week, A&P owns 296 stores and plans to close 25 soon “due to lack of interest and significant ongoing store operating losses.” A & P also agreed to sell another 120 stores — buyers included the Stop & Shop Supermarket Company, Key Food Stores Co-operative, Inc. and ACME Markets Inc. (The full list of closings and changed ownership is here.)
Now A & P announced that it’s actively seeking buyers for the remaining stores. Spokeswoman Dana Regan spoke with Living Rich with Coupons and confirmed this. A&P Chairman Greg Mays stated that the grocery chain “will continue to seek well-capitalized partners to purchase 151 of the remaining stores.”
Changes Begin in Late September
Dana Regan cautioned that the ink is not yet dry on any sales, all of which must be approved in court. However, confirmed Regan, the bankruptcy auction is scheduled for the end of September. That means that likely buyers will probably come forward during the next several weeks. She added, in a statement, “All asset sales will be conducted through a court-supervised sale process, subject to court approval and certain other conditions. “
Reports say that stores will close as soon as September 19, though Regan could not confirm this timeline.
America’s Choice and Other House Brands are Also for Sale
We asked Dana Regan about the future of America’s Choice, Green Way, Via Roma, and additional A & P house brands. Regan said that the house brands’ future is still under discussion; the brands may be sold and remain viable.
What About Eight O’Clock Coffee?
Eight O’Clock coffee is the oldest of the A & P house brands, but it has been independent of the stores since 2003. Eight O’Clock coffee will still be sold wherever shoppers normally buy it.
Will Closing Stores, or Stores Changing Hands, Have Significant Sales?
Dana Regan noted that sales, such as clearance sales, will be on a store-by-basis. However, when A & P has closed stores in the past, shoppers have seen significant stock-up sales — especially on house brands of merchandise.
Living Rich with Coupons urges shoppers to comment with any sale notifications and their locations.