Friday, September 25, 2015

Pathmark Bankruptcy Update: 9/25

On Monday our union along with Locals 338 and 342, continued meeting with Key Food regarding their acquisition of our Pathmark stores. All of our Local Unions are negotiating together as we did with Stop & Shop and Acme. Negotiations are progressing, and we will all meet again today (Friday 09/25). 
Bankruptcy Court Updates: On Monday Stop & Shop and Acme's purchases of A&P stores were approved by Bankruptcy Judge Drain.
Acme’s original 77 store bid has been reduced to 71. Stop & Shop has been out-bid for the A&P store in Mount Kisco reducing their count of stores to 24.  However, Stop & Shop still has the opportunity to bid higher during the auction.
The Auction: The remaining stores will be auctioned on Thurs. 10/1 and Fri. 10/2 (and if necessary Mon. 10/6 & Tues. 10/7).  We will have representatives at the auction on all dates and will keep you posted on any information that breaks during the auction.

We have been told that there are more than 120 bids submitted for stores in the auction, BUT we do not have any knowledge of how many stores were actually bid on OR who all the potential bidders are. We are still working with all of our Employers and trying to help them to purchase additional stores during the auction.
There will be no final 1113/1114 hearing until after the auction has been completed …. Currently it is scheduled for 10/7/16 (subject to change).
Store Transitions: The transition plans for the Pathmark stores purchased by Stop & Shop are starting to become clear.  The first three of our stores, Pathmark's 619, 626 & 661, will begin transitioning to Stop & Shop next week. 
Stop & Shop will start the application & interview process on Tuesday 09/29/15, and then follow with orientations for the membership in the days that follow.

Resource Fairs: You may have read that we will be hosting workshops and resource fairs for members displaced by the A&P bankruptcy in our September Newspaper.  Our first Member Resource Fair will be on October 7th at our Union Hall (425 Merrick Ave. Westbury, NY) from 9:30 AM - 6:00 PM (you may come and leave at anytime). If you're interested in attending please RSVP here
There will be two other fairs in our area, one in Suffolk County on October 15th at IBEW Local 25 in Hauppauge, RSVP here. There will also be a Fair in New York City.  The New York City date is still tentative, once it is confirmed we will let you know. In the meantime you can visit www.ufcwmemberresources.com for more information.
Please do not hesitate to contact us for any questions, concerns or issues.
Thanks again,
President
UFCW Local 1500
For all archived Pathmark updates, vist: www.ufcw1500.org/pathmarkupdates
—IMPORTANT A&P BANKRUPTCY DATES —

Friday, September 11th
The Bankruptcy Court will hear UFCW's objections to A&P’s KERP (corporate bonus plan).
Monday, September 21st (tentative)
Bid Deadline: All qualifying bids on the stores are due into the Bankruptcy Court.
The Bankruptcy Court will announce what Tier I stores have agreements to be sold and what stores will be sold at the auction on 10/1 & 10/2.
Thursday, October 1st and/or Friday, October 2nd
The auction for the remaining unsold and or closed stores will be held (depending on number of stores, dates could extend).

Friday, October 2nd (tentative)
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.
Friday, October 16th
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.
A hearing will be held on A&P's filing of a 1113(c).
Bid winners will be formally announced.

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