Wednesday, March 14, 2012

A&P emerges from bankruptcy as private company

In a statement today, A&P said it emerged from bankruptcy as a private company, having completed a court-approved financial restructuring. It had filed for bankruptcy in December 2010. The company said that JPMorgan Chase and Credit Suisse arranged for $645 million in exit financing.

A&P also said that it assembled a new management team, refurbished stores and concentrated them near core markets, negotiated a new agreement with its main supplier and made necessary changes to its collective bargaining contracts with unions.

A&P (The Great Atlantic & Pacific Tea Company) operates under the names A&P, Super Fresh, Pathmark and Food Emporium.

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