Great Atlantic & Pacific Tea Co. is considering a bankruptcy filing among possible options as the 156-year-old grocer works to cut costs, according to people familiar with the situation.
A filing, which would be the chain’s second in five years, could come as soon as next month, said the people, who asked not to be identified because the discussions aren’t public. Bids for A&P were due last month as part of an auction for the company, but no viable offers for the entire chain were received, the people said. That means the stores could be sold piecemeal, marking the end of what was once the largest U.S. grocer.
The company said in March that it was reviewing strategic alternatives for the business, and that process continues, according to Hugh Burns, a spokesman for Montvale-based A&P at Sard Verbinnen & Co.
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