Wednesday, March 20, 2013

A&P to see $130 million gain from real estate transactions

A&P, parent company of Super Fresh, Pathmark and others, announced last week that pending leasehold sales and sale-leaseback deals are expected to generate in excess of $130 million for the company. The properties affected were not identified.

President Sam Martin said the additional liquidity will help A&P invest in its stores and execute its strategic initiatives.

A&P, which emerged from bankruptcy a year ago, has continued to struggle and recently closed three Philadelphia area Super Fresh stores and has expressed interest in selling its Food Emporium chain.

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