A&P Announces Sale of 120 Stores on Heels of Chapter 11 Filing
SEAFOODNEWS.COM [Supermarket News] By Elliot Zwiebach - July 21, 2015 -
Within hours of filing a voluntary petition for Chapter 11 protection late Sunday, A&P said it has executed asset purchase agreements for approximately 120 stores at a price of approximately $600 million.
The company did not name any of the buyers. However, Netherlands-based Ahold said Monday it has entered an agreement to acquire 25 A&P, Pathmark and Waldbaums stores in the Greater New York area for $146 million that it plans to convert to the Stop & Shop banner — a transaction expected to close by the end of 2015.
However, with the Chapter 11 filing, Ahold said the potential exists for an auction under which other bids could be received and accepted for the 25 stores...
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