A&P to close 14 stores
Jan 11, 2012 10:51 AM
The Great Atlantic & Pacific Tea Company Inc (A&P) has filed a motion with the US Bankruptcy Court for the Southern District of New York seeking approval to close 14 stores in four states as the company prepares to emerge from Chapter 11. Store closures are expected to be completed in the company’s fiscal first quarter, subject to court approval.
Sam Martin, A&P president and chief executive officer, said, “We are continuing to take the steps necessary to position A&P to emerge from Chapter 11 with a strong future and ensure that we remain focused on our top priority: providing great value and service to our customers every day. As part of our preparations to emerge from Chapter 11, we have decided to close these 14 underperforming locations. While this was a very difficult decision that will unfortunately impact some of our customers, partners, associates, and the surrounding communities, these actions are absolutely necessary as we continue to strengthen A&P’s operating foundation and improve our performance.”
As part of the store closing process, A&P will work to facilitate future store assignments based on employees’ collective bargaining agreements. The company will also encourage customers to shop at its other neighborhood stores in close proximity to the closing store locations.
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