Bankrupt A&P Sells 12 Supermarkets For $40M

Law360, New York (May 26, 2011, 3:46 PM EDT) -- The Great Atlantic & Pacific Tea Co. Inc. said Wednesday that it had auctioned off 12 mid-Atlantic supermarkets for about $40 million and would close another 13 stores as part of its reorganization in New York bankruptcy court.

The supermarket chain said April 13 that it would pull out of the mid-Atlantic by selling off 25 Superfresh stores in Baltimore and Washington to refocus on its core Northeast market.

But A&P said Wednesday that it only sold 12 Superfresh stores in Maryland and Washington at auction,...
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