Montvale, N.J.-based Great Atlantic & Pacific Tea Co. Inc. (A&P) recently completed the auction of 25 southern Superfresh locations, as it continues to fully implement its comprehensive financial and operational restructuring. The winning bids, which are subject to approval from the bankruptcy court before the sales would be completed, will be listed in motions of the company to be filed with the court May 27.
The winning bids are as follows:
- Ten stores—two in Baltimore (Charles Plaza and 41st Street & Hickory) and one each in Parkville, Arnold, White Oak, Lutherville, Cambridge, Chestertown and Brunswick, Md., and Washington D.C.—to a joint venture between Mrs. Greens Management Corp. and Village Supermarkets. The White Oak and Lutherville, MD stores will be operated by Village Supermarkets with the remaining stores to be operated by Mrs. Greens Management Corp.
- The Ellicott City, Md., store to SUPERVALU.
- The Westminster, Md., storeto its landlord, Englar Center Limited Partnership
In addition, the prescription customer lists of seven Superfresh stores were awarded to three different bidders (three to Walgreen’s; three to Safeway and one to CVS/pharmacy).
Based on these results, the company expects auction proceeds in excess of $40 million.
A&P President and CEO Sam Martin said in a company press release, “We are pleased with the results of the store auction and want to thank our dedicated Associates for remaining focused on delivering great service to our customers throughout the sales and marketing process. We also want to thank our customers for their loyal patronage over the years.”
The company anticipates closing the 13 remaining Superfresh locations that were not sold at auction. These locations are expected close by mid-July, subject to approval by the court.
As previously announced, the company’s Superfresh locations in New Jersey, Pennsylvania and the Maryland/Delaware shore area were not included in this bidding process. These stores continue to operate normally with fully stocked shelves and the excellent service A&P customers expect.
