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A&P not feeling Superfresh

Company to sell 25 stores

MONTVALE, N.J. — A&P continues to implement its turnaround strategy with the announcement that it is filing a motion seeking court approval of bidding procedures to market and sell 25 Superfresh stores in two Southern states and the District of Columbia.

 

A&P, which filed for bankruptcy in December 2010, earlier this year revealed plans to shutter 32 stores in six states and bolstered its merchandising and marketing team with the appointment of six new executives.

The 25 Superfresh locations to be put up for sale under the proposed bidding process include 22 in Maryland, two in Delaware and one in the District of Columbia. Any sales resulting from the proposed bidding process are expected to be completed by mid-June, subject to court approval, the company reported.

A&P president and CEO Sam Martin said, “The company has been working hard to implement our turnaround strategy since last year. As part of our ongoing review of our store footprint, we determined that these 25 Superfresh locations are outside A&P’s core market. While the decision to put these non-core stores up for sale will unfortunately impact some of our customers, partners, communities and Associates, this is a necessary step in our efforts to restore the company to long-term financial health.”

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