Monday, July 20, 2015

Acme to bid on bankrupt A&P stores; several Pathmarks and Superfresh stores to close immediately

One day after A&P filed for bankruptcy for the second time in five years, Acme announced today that it will bid to acquire 76 A&P, Superfresh and Pathmark stores in Pennsylvania, New Jersey and Delaware.

In a statement by A&P earlier today, the company said it plans to sell 120 stores in total for about $600 million. The food retailer has 296 stores overall, and in its bankruptcy filing it lists assets and liabilities of more than $1 billion each.

Analysts have speculated that Ahold (Giant, Stop & Shop) may bid on certain A&P locations as well.

A report this afternoon by Natalie Kostelni on the Philadelphia Business Journal's website said that A&P has asked a bankruptcy judge "to let it quickly close 25 underperforming stores that have sustained 'significant operating losses.'" A list of stores slated for closure is below.

A story on PhillyVoice.com pointed out that A&P operated more than 15,000 stores early in the 20th century. By 2010, the company was a fraction of its former self and filed for bankruptcy. A couple years later it emerged as a private company after obtaining financing from investors.

Acme is a subsidiary of Albertsons, which acquired Acme in 2013, and the Malvern, PA-based company operates 107 stores.

Stores slated for quick closure:

A&P (2101 Route 35, Holmdel, NJ)
A&P (325 Highway 35 South, Cliffwood, NJ)
Pathmark (1764 Grand Avenue, Baldwin, NY)
Pathmark (115 Belmont Avenue, Belleville, NJ)
Pathmark (450 West Swedesford Road, Berwyn, PA)
Pathmark (2150 Middle Country Road, Centereach, NY)
Pathmark (85 Ackerman Avenue, Clifton, NJ)
Pathmark (895 Paulison Avenue, Clifton, NJ)
Pathmark (50 Racetrack Road & Route 18, East Brunswick, NJ)
Pathmark (561 Route 1, Edison, NJ)
Pathmark (420 McDade Boulevard, Folsom, PA)
Pathmark (651 North Stiles Street, Linden, NJ)
Pathmark (1043 Route 9 North, Old Bridge, NJ)
Pathmark (840 Cottman Avenue, Philadelphia, PA)
Pathmark (85 Franklin Mills Boulevard, Philadelphia, PA)
Pathmark (1256 Indian Head Road, Toms River, NJ)
Pathmark (300 South Best Avenue, Walnutport, PA)
Pathmark (3901 Lancaster Avenue, Wilmington, DE)
Superfresh (1301 Skippack Pike, Center Square, PA)
Superfresh (2105 Philadelphia Pike, Claymont, DE)
Superfresh (863 East Baltimore Pike, Kennett Square, PA)
Superfresh (1851 South Columbus Boulevard, Philadelphia, PA)
Waldbaums (2 Westbury Avenue, Carle Place, NY)
Waldbaums (3620 Long Beach Road, Oceanside, NY)
Waldbaums (1510 Old Country Road, Riverhead, NY)


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