A&P Emerges From Bankruptcy

Attention all Local 1500 Members working for Pathmark, yesterday A&P/Pathmark announced they have exited Bankruptcy.

Here is their Full Company Press Release: http://www.aptea.com/pressRoom_article.asp?id=248

Article from the Associated Press:

MONTVALE, N.J. (AP) — The Great Atlantic & Pacific Tea Company Inc., which was once the nation's largest grocer, said Tuesday that it has emerged from Chapter 11 bankruptcy protection as a private company.

The company filed for bankruptcy protection in late 2010 after struggling with weak sales and enormous debts.

The grocer, known for its A&P chain, has secured financing for operations, refurbished some stores and negotiated new agreements with suppliers and its employee unions.

It also has a new management team in place. The company announced Tuesday that it has named Raymond Silcock as its chief financial officer. He joined the company in 2011 as head of finance. Silcock replaces Frederic Brace, who is resigning from his role as chief restructuring, financial and administrative officer now that the bankruptcy process is complete.

"In just over one year, we have completed a thorough restructuring of A&P's cost structure and balance sheet to build a strong foundation for the company's future," Sam Martin, A&P's president and CEO said in a statement. "With the full support of our financial partners, the new A&P is committed to delivering exceptional value and an enhanced in-store experience to all of our customers."

The company operates more than 300 grocery and drug stores in six states under the A&P, Best Cellars, Food Basics, The Food Emporium, Pathmark, Superfresh and Waldbaum's names

A&P, based in Montvale, was founded in 1859 and is considered one of the country's first supermarket chains.

Copyright © 2012 The Associated Press. All rights reserved

Thursday Afternoon News: Waldbaum's Closes Friday, More News from A&P

Waldbaum's in Levittown Closes Friday, Shoppers Forced Elsewhere
Levittown, NY--Though the store's closing has been known for quite some time, there is still no answer as to what will take its place. Rumor of a ShopRite have not been confirmed. 




Wall Street Journal: Grocery Chains Increase Ad Spending Amid Price War
Chains including Safeway and A&P are touting price cuts on thousands of items, a double whammy to profits: spending to entice customers to come in for lower-priced items. 

Meanwhile, Big Y, who purchased seven stores from A&P in Connecticut, is set to reveal their plans for the stores this week.  

Supermarket News covers the possible strike at Food Basics in New Jersey.


A&P Seeks Advice from Wall-Street Journal on Debt.


SN: Wal-Mart Confirms: Smaller Stores in Urban Areas Ahead....


They also announced that they'll spend a modest $13.5-$14.5 billion in capital spending next year, a 3.7% increase from 2010.



Wal-Mart to Boost Locally Sourced Fresh Food
Wal-Mart is planning to double the sales of fresh produce it sources from local farms in its U.S. stores by the end of 2015. 


Daily Finance: 5 Fun Facts About Wal-Mart
The Top-line numbers don't convey just how massive Wal-Mart really is. To further understand this retail giant, here are some fun facts that help illustrate its heft...


Wal-Mart's Holiday Wish: Better Sales
Although the world's largest retailer has been losing sales to its competitors this year, they expects sales to improve in the critical holiday shopping season. "We expect positive sales results in the fourth quarter"- Mike Duke, Wal-Mart's CEO

Whole Foods raises a bunch of cash to improve school lunches.

Monday Morning One Liners....A&P to Close 25 Stores...

Image via WikipediaThe stock of Delhaize Group fell more than 11% on Friday after the company reported weak U.S. sales at its Food Lion division in the second quarter.

A&P on Friday said it would close 25 stores as it begins the implementation of its newly announced turnaround plan.A&P officials declined to provide a list of stores slated for closure, although a spokeswoman told SN Friday the closures “include those across our A&P, Waldbaum’s, Pathmark, Super Fresh and Super Foodmart banners.”

More @ Crain's

Here is A&P's official statement [Press Release]

AP: Smithfield, UFCW, Getting along after years of fighting..."Surprisingly, for the 17 years of fighting we had, our relationship is as good as any place with Smithfield that we represent,"

New York Times: The Laborers’ International Union has agreed to rejoin the A.F.L.-C.I.O., increasing hopes for the once-splintered labor movement to reunite under a single umbrella

More @ Politico

Tuesday Morning One Liners...

Image via Wikipedia

Certain bargaining units in Colorado that voted to approve a new union contract with Safeway have signed contracts, a report said Monday.

The Gowanus Canal, once a prospective site for Whole Foods, is now being cleaned up, but may just remain as is, a hole. Brooklyn Paper has more.

The Hannaford Hacker has plead guilty.

A&P is distributing 2010 health-themed calendars packaged with $45 in coupon savings, “Live Better!” calendars — available at the pharmacy departments of the retailer’s A&P, Waldbaum’s, Pathmark and Super Fresh banners

UFCW Local 1 has filed an objection on Price Choppers' bid on the Penn Traffic company.  There is "no assurance that Price Chopper will continue to employ a single of Penn Traffic's employees," says the document filed by the union.

• If a nonunionized company purchases Penn Traffic, it would be required to recognize a store's bargaining unit if it rehires more than 50 percent of a store's former employees.
• Buffalo-based Tops Markets reportedly will join the contest to acquire Penn Traffic's 79 stores, with a bid of more than $90 million.

 
The Jewish Theater of New York announced Monday that anyone on food stamps or Medicaid can attend its upcoming production for just $5. Full-price tickets are $50.

If you haven't read the New Yorker's piece on John Mackey yet.

King Kullen to close in Staten Island, Friday news...

Image via WikipediaHere's Obama on the Employee Free Choice Act.

King Kullen in New Dorp, Staten Island to shut doors next month.

Supermarket News covers the story.

"We are extremely concerned about our members who work in that store and will do everything within our power to minimize the effect this store closing has on them and their families," said Bruce Both, president of Local 1500.

Revenue at some Long Island City establishments is down as much as 70 percent, in large part due to recent weekend No. 7 line service interruptions and the closure of nearby Borden Avenue Bridge for repairs, according to several business owners interviewed by the Queens Chronicle this week.

Canada Wal-Mart asks High Court to dismiss store closure suit.

Stop & Shop Supermarket responds to the peanut butter recall.

Another New Jersey Wal-Mart opens [AC].

The Great Atlantic & Pacific Tea Co. here said yesterday it would sell a line of "stylish, reusable" lunch bags at all its banners: A&P, The Food Emporium, Pathmark, SuperFresh and Waldbaum's.

Long Island lost 21,600 private-sector jobs in the 12-month period ended in December, compared with a year ago, marking the weakest local job market in 16 years, according to data released yesterday by the New York State Labor Department.


Politics

Patterson picks Gillibrand for Senate.

Rep Carolyn McCarthy knocks Patterson's selection.

Suozzi's future is in Albany.