Prior to the first of several auctions slated for later this month, U.S. Bankruptcy Judge Robert Drained rules on September 1 to allow A&P to restrict seniority bumping rights at 25 stores scheduled to close by mid-October.
Stock in Fairway Group Holdings dipped sharply following the company’s release of quarterly losses and sales declines that were more severe than had been expected.
Creditors and labor unions are objecting to A&P’s bankruptcy plan, causing the chain’s chapter 11 plan to hit a bump.
Supervalu announced July 28 that it is exploring a separation of its Save-A-Lot business.
For the second time in five years, A&P has filed for Chapter 11 Bankruptcy and has sold 120 of its stores to three parties – Acme, Stop & Shop and Key Food stores – and will shutter an additional 35 units.
Pledging to maintain its strategy of driving sales first, Weis Markets COO Kurt Schertle told more than 300 vendors that the Sunbury, PA based regional chain will continue to invest in its stores and seek further supply chain efficiencies. Schertle made his remarks at a vendor meeting at Susquehanna University prior to Weis’ annual charity golf outing on July 14.
For the second time in five years, A&P has filed for Chapter 11 bankruptcy protection. After filing early Sunday July 19, the company announced plans to sell 120 stores and shutter 25 others.
On July 8, Albertsons Companies filed a registration statement with the SEC for a proposed initial public offering of share of its common stock.
The culmination of 43 days of negotiations ended on June 24 when international supermarket retailers Delhaize and Ahold agree to merge in a $29 billion deal.
The Food Trade News 2015 market study shows that StopRite remains the leading operator in the marketing area.