Wednesday, September 9, 2015

A&P Bankruptcy Procedure Dates

Keeping you up to date on all A&P news, we have created a chart below of upcoming scheduled bankruptcy court procedures for your records. 

—IMPORTANT A&P BANKRUPTCY DATES —

Friday, September 11th 
  • All qualifying bids on the stores are due into the Bankruptcy Court.The Bankruptcy Court will hear UFCW's objections to A&P’s KERP (corporate bonus plan).
 Monday, September 21st 
    • The Bankruptcy Court will announce what Tier I stores have agreements to be sold and what stores will be sold at the auction on September 24rd or 25th.
Wednesday, September 24rd and/or Thursday, September 25th 
    • The auction for the remaining unsold stores will be held. All qualifying bids on the stores are due into the Bankruptcy Court. The Bankruptcy Court will hear UFCW's objections to A&P’s KERP (corporate bonus plan). 
Friday, October 2nd 
    • Bidders can file objections to the sale of stores in the Bankruptcy Court. The UFCW can also file objections to bids made on the stores. 
Wednesday, October 7th 
    • A hearing will be held regarding the objections to the sales filed to the Bankruptcy Court. At this stage, the UFCW will have a voice during the auction process to make recommendations on bidders. For instance, if two companies place a comparable bid on the same store and one is a union employer, while the other is non-union, the unionized store would have an advantage and they should likely win the bid. Thursday, October 15th The winning bids of the stores will be formally announced. 



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