MONTVALE, N.J. A&P announced that it has entered into an agreement with Big Y Foods, to sell seven store locations in northern Connecticut. The sale of these stores is part of a comprehensive turnaround strategy initially announced by the company in late July. The stores are expected to close at the end of October.
“We continue to evaluate our operating footprint and its alignment with our turnaround strategy. These seven stores were clearly outside of our core markets and their sale was necessary,” stated Sam Martin, president and CEO of A&P.
Martin continued, “The company faces many difficult decisions over the next several months which are required to strengthen our foundation and improve our performance going forward. As we implement these initiatives, we remain mindful of the impact on our associates. I would like to thank the affected associates for all of their hard work and dedication over the years.”