Retail News Breaks Archives
A&P to sell six Pathmark stores
November 10th, 2010
MONTVALE, N.J. – A&P has sold five of its Pathmark locations and expects to close on the sale of a sixth this week to Winstanley Enterprises LLC.
The troubled grocer will receive $89.9 million, excluding closing costs, for the properties, which are located in New York, New Jersey, Pennsylvania and Delaware.
"This agreement is another step forward in our comprehensive turnaround strategy," said Sam Martin, president and chief executive officer of A&P, in a statement. "We continue to analyze areas across the business to identify ways such as these to further strengthen our financial foundation and improve our performance."