A&P to shuttter stores as Chapter 11 nears conclusion

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WATERMELON — F.O.B.S AS OF FEB. 13

MEXICO CROSSINGS THROUGH TEXAS — Crossings (85-71-77) — Movement expected about the same. Trading early fairly active, late moderate. Supplies light. Prices higher. Red-flesh seedless-type per-pound cartons 4-6s mostly 30 cents; 24-inch bins approximately 35, 45 and 60 counts mostly 28 cents. Quality generally good. Most present shipments from prior bookings and/or previous commitments at lower prices.

CENTRAL AMERICA IMPORTS — Imports (88*-108*-62, seedless 47*-79*-8; seeded 0-0-0) — Imports via boat from Guatemala, Honduras, Nicaragua. Movement expected to remain about the same. Ports of entry: south Florida. Trading active. Prices higher. Cartons flat red-flesh seedless miniature 6-9s mostly $15. Red-flesh seedless-type 65- to 69-pound cartons 3-6s 32-33 cents per pound. Quality good. *revised.

MEXICO CROSSINGS THROUGH NOGALES, ARIZ. — Crossings (35-31-20, seedless 33-31-20, seeded 2-0-0) — Movement expected about the same. Trading active for very light supplies. Prices much higher. Red-flesh seedless-type cartons per-pound 4-5s mostly 34 cents, 6s 30-34 cents. Quality variable.

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Home > News > A&P to shuttter stores as Chapter 11 nears conclusion

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A&P to shuttter stores as Chapter 11 nears conclusion

01/27/2012 3:31:12 PM
Pamela Riemenschneider

Great Atlantic & Pacific Tea Co. Inc.’s Chapter 11 bankruptcy reorganization could be approved as soon as early February.

In a hearing on Jan. 24, the bankruptcy judge presiding over the case approved a $750 million financing package and 14 additional store closures.

According to an A&P news release, the company plans to close 14 stores in 4 states, bringing its expected store closures to 50 under Chapter 11 reorganization.

The company has 336 stores in 6 states: Connecticut, New York, New Jersey, Pennsylvania, Delaware and Maryland. It operates under the A&P, Waldbaum’s, The Food Emporium, SuperFresh, Pathmark, Best Cellars and Food Basics banners.

According to court documents, Judge Robert Drain of the U.S. Bankruptcy Court in White Plains, N.Y., also approved a $400 million revolving loan and $350 million term loan from J.P. Morgan Chase & Co., and Credit Suisse, at the Jan. 24th hearing.

In November, A&P made an agreement with The Yucaipa Cos. LLC, Mount Kellett Capital Management, L.P., and investment funds from Goldman Sachs Asset Management L.P., to receive $490 million of debt and equity financing.

A hearing confirming the company’s bankruptcy plan is scheduled for Feb. 6 and 7.

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A&P to shuttter stores as Chapter 11 nears conclusion

01/27/2012 3:31:12 PMPamela Riemenschneider

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01/27/2012 3:31:12 PM
Pamela Riemenschneider