Founded in NY, bankrupt in NY: Grocer A&P files for Chapter 11

[brooklynite]

Source: Crain's New York Businessa

Great Atlantic & Pacific Tea Co. filed for bankruptcy for the second time in five years as upstart supermarket chains ate into the 156-year-old company's market share.

A&P, as it's known, said it will enter into an agreement to get $100 million in debtor-in-possession financing, according to a Chapter 11 filing late Sunday in New York. The company operates Waldbaum's, Food Emporium, Super Fresh, Pathmark and Food Basics, as well as its namesake stores. It has more than 300 stores, according to its website.

...snip...

A&P has struggled of late to compete with newcomers including Whole Foods Market Inc. and Trader Joe's Co. Its stores came to seem dated, and the company sagged under high pension costs and other labor expenses.



Read more: http://www.crainsnewyork.com/article/20150720/RETAIL_APPAREL/150729998/founded-in-ny-bankrupt-in-ny-grocer-ap-files-for-chapter-11#utm_medium=email&utm_source=cnyb-realestate&utm_campaign=cnyb-realestate-20150720

[shenmue]

1. Noooooooooooooo!

I grew up with A&P, Pathmark, Food Emporium and Waldbaum's. I am going to miss them.

No more no frills macaroni and cheese at Pathmark! It was the best! It burned a little with a nice crust.

Also, Waldbaum's had really good chocolate ice cream.

[madville]

15. They're not going away just yet

they are trying to restructure their debt, renegotiate with suppliers and lower their pension costs and obligations under their union contracts. Bankruptcy is used as a negotiation tool in some of these situations.

[bucolic_frolic]

2. Any American Companies going strong?

Ahold (Giant), Aldi, Delhaize ... all our profits go to foreign companies.

[brooklynite]

3. Wegmans is expanding into Brooklyn...

[onehandle]

4. I love Wegmans.

Been rumors for years that one would open in Center City Philadelphia. We have to drive to the 'burbs to shop there.

Went there yesterday. Ate in the pub before we did our grocery shopping.

Grocery shopping is much more pleasant after a beer or two.

[meow2u3]

9. I love Wegmans, too

I shop at a Wegman's in the Lehigh Valley, PA, about 15 miles from my house. It may be far, but it's worth the trip.

The meats are fresh and very tasty; the prices are reasonable (except for the organic stuff).

[bucolic_frolic]

18. One of these companies

and i won't mention which, not Wegman's, seems to me to have
raised prices stiffly over the last 2 years, cut discounting to a measly
nickel on many sale items, and plastered LOW PRICES all over the
store and parking lot.

I rarely go there anymore, no value being offered.

[meow2u3]

21. One company uses deceptive practices to trick shoppers into paying more

I'm not going to mention the grocery chain.

Let's say an item was $.89 last week. This week, the company is selling the same item on sale for $.99, down from $1.19.

WRONG!!! The damn thing went UP a dime! They're just taking advantage of busy people who have no time to check prices, hoping they don't notice.

[catnhatnh]

17. Yep

https://www.bostonglobe.com/business/2015/06/27/year-later-market-basket-thriving-after-near-meltdown/EIePjTzCJYhgLWwRpBuoAI/story.html

[packman]

5. What a shame

The first "supermarket" in our little home town of 10,000 or so was the A&P down by the railroad tracks. We were in awe of its automatic doors, shiny displays of canned goods, meats wrapped in plastic and the whole experience. Hell,, I even won a cheap watch on one of its promotional give-aways. It lasted for about 10 years before it folded and was replaced by a shopping mall out on the superhighway.

[OakCliffDem]

11. Ten years is a long time for a cheap watch to last.

How long do you think the mall will be keeping time?

[packman]

12. It keep on tickin'

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I LAUGH AT YOUR HUMOR AND PRAISE YOUR GRASP OF GRAMMAR

[bucolic_frolic]

20. The A&P I recall as a kid

1960s, had dark wooden floors with narrow boards, tall shelves with narrow aisles, a butcher counter about
12 feet long, no plastic, and it was not well lit. Tiny store, tall ceilings.

The checkouts, maybe 2 or 3 of them, were near the front, and all the items had prices stamped
on them in purple vegetable dye, with a circle around it. They used a spring-loaded
reciprocating stamper to ding each one.

Coffee was really fresh ground, through the machine into a paper bag as you watched.

[Moostache]

6. Sick to death about reading "pension costs"...

That is easily translated...
"The ownership and controlling interests of the corporation decided long ago that their share ofthe profits produced by a successful business would not be shared equally with the people who did the work. Instead, they offered them pensions in the hope thqat most would die before becoming eligible or at the very least die quickly after retiring. Now that they mismanaged the business, over-expanded the brand and set up too many shops to remain competitive at any point, they wish to blame those workers who did live long enough to collect a pension. They also want to introduce slave labor conditions in the United States to "compete" with sweat shops and labor camps in Asia and Africa."

FUCK THEM SIDEWAYS ALREADY!!!!

[appal_jack]

19. Excellemt summary & analysis, Moostache. k&r, nt

[no_hypocrisy]

7. I'm going to miss the Eight O'Clock coffee beans.

[elleng]

8. Thanks so much for this!

I SO remember my folks getting those, when I was a kid in Brooklyn. AND the roasting aroma @ foot of Brooklyn Bridge!

[LynneSin]

10. I'm not surprised. The Pathmarks around here are pretty nasty places to shop.

I prefer shopping at Giant Food which has an amazing selection of Organic and Natural food. I find it a better option than driving all the way to Pennsylvania for overpriced Whole (Paycheck) Foods. And Giant Food is a good union company!

[wolfie001]

13. Thanks!

I'm a Giant Food Union worker for 31 years here in Maryland. Wegman's is NON-UNION!!!! Thank you for shopping Union and knowing the difference!

[LynneSin]

16. Proud to shop Giant!!!

Will always give my business to Giant Food!

[Tab]

14. So much for the jokes

at 11 years old, it was the funniest thing that "A&P" and "Stop & Shop" would merge, the new company being called "Stop & P".

Sadly, that will never be true.

But for an 11-year-old....