Food and Staples Retailing
Company Overview of The Great Atlantic & Pacific Tea Company, Inc.
The Great Atlantic & Pacific Tea Company, Inc. operates conventional supermarkets, combination food and drug stores, and limited assortment food stores in the United States. The company’s stores offer grocery products, including grocery, frozen foods, dairy, general merchandise/health and beauty aids, wine, beer, spirits, and pharmacy; meat products, such as meat, deli, bakery, and seafood; and produce comprising produce and floral products, as well as provides on-site banking services. Its stores also sell private label products under the brand names of America’s Choice, America’s Choice Gold, America’s Choice Healthy Kids, Hartford Reserve, Smart Price, Green Way, Via Roma, and Live Better...
2 Paragon Drive
Montvale, NJ 07645
Founded in 1859
Key Executives for The Great Atlantic & Pacific Tea Company, Inc.
Chief Executive and President
Chief Accounting Officer, Vice President and Corporate Controller
Chief Administrative Officer and Chief Restructuring Officer
Senior Vice President and General Manager of The Food Emporium
Senior Vice President of Supply & Logistics
Compensation as of Fiscal Year 2015.
The Great Atlantic & Pacific Tea Company, Inc. Key Developments
A&P Mulls Store Sale
Nov 14 15
The Great Atlantic & Pacific Tea Company, Inc. (A&P) intends to sell the remaining 57 supermarkets and 17 liquor stores. The company is continuing to market the sale of those store leases to prospective grocery operators with the expectation that more of them will be sold, Ray Schrock, A&P lawyer, said. The company will try to find buyers for the stores in the next few months.
A&P Seeks Court Approval to Reject Union Contracts
Sep 10 15
A&P has asked U.S. Bankruptcy Court for permission to reject union contracts and implement what it called its final labor proposal, saying the provisions of existing collective bargaining agreements 'unreasonably impair' its ability to sell its stores and go out of business. The company is also seeking to terminate its obligation to pay benefits for 1,600 union and 500 non-union retired employees. A&P recognized a net liability of $16.6 million for those obligations in 2014. A&P, which is pursuing a sale of all of its stores, said prospective buyers' offers are contingent upon being free of labor obligations, and that a failure to execute those sales would trigger a liquidation sale greatly reducing the value of the estate. The retailer said it has been unable to come to an agreement with unions despite lengthy negotiations. A&P's final proposal, submitted to unions earlier, would reject CBAs for stores to be sold at the time of the completion of the sale; and reject the CBAs of stores that are not sold upon the time they close, unless the company and labor have worked out an alternative agreement.
Great Atlantic & Pacific Tea Co. Announces 4,600 Jobs at Risk in November Cuts
Aug 25 15
Great Atlantic & Pacific Tea Co. revealed that more than 4,600 workers at 45 Long Island supermarkets are at risk of being laid off by Thanksgiving as part of its Chapter 11 bankruptcy proceeding. About 13,000 employees at Long Island, New York City and Hudson Valley stores could be affected by the potential layoffs, according to a state filing posted yesterday. The layoffs are scheduled to take place between Nov. 12 and Nov. 26.
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