N.J. based grocer A&P files for bankruptcy

[DainBramaged]

The Great Atlantic & Pacific Tea Co., the centuries-old grocery store chain that operates 129 A&P, Pathmark, SuperFresh and Food Basics stores in New Jersey, filed for Chapter 11 bankruptcy protection today, succumbing to tough competition and a weak economy.

The Montvale-based company said its stores will remain fully stocked and open with no interruption of business.

Sam Martin, the company’s chief executive officer, said the filing was "difficult but necessary."

"(We) concluded that we could not complete our turnaround without availing ourselves of Chapter 11," Martin said in a statement. "It will allow us to restructure our debt, reduce our structural costs and address our legacy issues."

http://www.nj.com/news/index.ssf/2010/12/nj_grocer_ap_files_for_bankrup.html


Buying Pathmark to try and compete with ShopRite and now Walmart and Target was stupid. They were the 'quality' grocer, now they're just badly run. They tried to close 25 poorly performing stores and 2000 got put on waivers.

[SugarShack]

1. Wow, had A&P growing up in Mich., and spent time at Huntington Hartfords home in NYC!

He was very old...and a heroin addict. I saw him at his home in 1984. He was the son of one of the original founders of A&P. He died at 97 in 2008. When I saw him he was 71 and looked as if he were 100. I could not believe he lived so long when I heard that he died in 2008.

[tinymontgomery]

2. Grew up with A&P

in New Jersey, Along with Acme. Which always got us a laugh with Wily Coyote using Acme stuff.

[rainbow4321]

8. Me, too!!

In NJ.

It was the only grocery store in town.

Wow, hadn't thought about them in forever.

[williesgirl]

3. This'll let them out of their leases and watch the stores close now. Only

reason for doing this most likely.

[DainBramaged]

7. It will be interesting to see what concessions they try to wring from the UFCW

http://www.groceryworkersunited.org/campaigns_a&p.htm

[Liberal_in_LA]

4. this thread received neg recs. WHY??????????????????

[DainBramaged]

5. Enemies of the Bramaged

Lots of them here. Sharp stick in your eye, I got it. SO they get back by unrecing every thread I post. I have a huge ignore list because I just don't suffer fools well. And I am hard core Union. UAW edition. Lots of folks dont like that. Truth. read my journal. I post a lot of threads there.

[Liberal_in_LA]

6. I see. They are unreccing the person, not the topic. too bad.