Friday, September 18, 2015

A&P Bankruptcy Update: Key Food, Stop & Shop Negotiations & New Bid Date

This week our union along with Locals 338 and 342, continued to meet with Stop & Shop and Key Food regarding their acquisition of our Pathmark stores. 

Yesterday we met with Key Food late into the night and made significant progress. Negotiations will resume with Key Food on Monday.  

We met with Stop & Shop all day Wednesday and again today. After a very long negotiating session, we've come to a tentative agreement with Ahold (Stop & Shop) on the 12 Pathmark stores they will be acquiring. The tentative agreement preserves the jobs, benefits, rates of pay and entitlements of all Pathmark members in the 12 stores. 

Bankruptcy Court Procedures Update: We are aware how stressful and anxious the situation is for our Pathmark members working at a store that is currently unsold. Late last night we were notified that the bidding deadline has again been moved.

Our professionals and attorneys have advised us that new bidders are coming to the table with new offers every single day.  The final bids on A&P stores are now due in the court Monday, Sept 21st by 5 PM.  The bids will not be public and we will not officially know who is bidding on what store until the auction process is completed.

Our Union Team is diligently working to save jobs.  We will continue to meet with all companies and will not stop fighting to save the benefits, entitlements and jobs of all men and women working for A&P have earned and families depend on.

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