A&P moves ahead with turnaround strategy as it closes more stores
MONTVALE, N.J. — Grocer A&P has announced plans to shutter 14 stores in four states as it prepares to emerge from bankruptcy.
The company has filed a motion with the U.S. Bankruptcy Court for the Southern District of New York seeking approval to close the stores. The store closures are expected to be completed in the company's fiscal first quarter, subject to court approval.
"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," A&P president and CEO Sam Martin said. "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 associates¹ collective bargaining agreements. The company also will encourage customers to shop at its other neighborhood stores in close proximity to the closing store locations.