The wind down of the once iconic Great Atlantic & Pacific Tea Company goes on and the results continue to be underwhelming.
As we went to press on November 13, 167 stores (out of 296 units) have been sold, with another 20 supermarkets awaiting sales approval from U.S. Bankruptcy Judge Robert Drain. All A&P stores (including those bannered under the Pathmark, Super Fresh, Waldbaum’s, Food Emporium and Food Basics names) are slated to close no later than November 25 and the last of the administrative employees headquartered in Montvale, NJ will be terminated on December 9.
Just before presstime, A&P received court approval to extend the Chapter 11 process to March 16 and the solicitation period for its approval to be pushed back until May 16 so it can have more time to sell unclaimed stores. Those agreements were set to expire on November 16 and January 15 respectively.
In court documents, A&P stated that it hopes either to hold additional auctions for the unsold stores, or sell the stores through private deals over the next few months.
The 167 stores that were approved for sale have reaped $615.7 million and there is another $81 million to add to the till if those 20 units are approved. Additional income was received by selling inventories ($61 million) with another $42 million accrued from the sales of A&P’s pharmacy records from 109 of its units. The bereft retailer is also attempting to sell its intellectual property and, in a separate deal, has received a $1.75 million offer (still pending) from Key Food Stores to acquire the Food Emporium name.
After the round of auctions that ended on October 8, A&P has struck tentative deals (all pending court approval) for an additional 11 stores including six units to Best Yet Market (five Pathmark and Waldbaums stores on Long Island and one Food Emporium in Manhattan). Other buyers include Key Food (an A&P unit in Peekskill, NY which would be the 24th A&P store acquired by the co-op); Nicholas Markets/Foodtown (an A&P in Washington Twp., NJ); Bogopa/Food Bazaar (a Pathmark in Brentwood, NY) as well as two other properties that were acquired by real estate entities – a Super Fresh in New Castle, DE (which has been tentatively purchased by L&S Properties) and a Pathmark on Richmond Avenue in Staten Island, NY (which was tentatively acquired by Fox Hill II). Additionally, Key Food is slated to be the food tenant in a CVS store purchased in Yonkers, NY after the drug chain agreed to divide the property to accommodate a food store. An updated store-by-store status chart can be found on pages 36 and 37.
Further sales activity is expected once A&P closes all of its stores and is no longer under Chapter 11 protection. At that point, many leases will fall back into the control of the individual landlords who will be free to make unfettered deals with interested retailers. Additionally, you can expect food retailers and real estate entities to make deals within the jurisdiction of the bankruptcy court once A&P has lowered minimum qualifying offers.
Sources told us that process has already begun as A&P is approaching its deadline (that’s why an extension was requested) and they expect at least 20 more stores to be sold in this so-called “clean up” process. However, those same sources said that some landlords are asking exorbitant leasehold increases which would slow the sales process further.
“A&P’s minimum qualifying offer requirements were significantly inflated in many cases,” said one retailer involved in the bidding process. “When you consider the cost of refurbishing many of these dilapidated stores and also then having potentially to deal with landlords for stores where leases are expiring within five years, the incentive to make a deal diminishes quickly.”
That retailer also said that he expects at least 60 stores will remain dark a year from the day that bankruptcy was filed.
To date, Acme Markets, the largest bidder with 71 stores, has opened about 80 percent of the supermarkets it acquired. Stop & Shop (25 units), too, has nearly completed its store conversions and Key Food expects all its 24 acquired units to be ready for business by the end of this month.
A&P Store Disposition As Of November 16, 2015
Sold to Acme Markets
A&P 2007 State Route 35, Wall Township, NJ
A&P 100 Triangle Center, Yorktown, NJ
A&P 137 Lake Street, Midland Park, NJ
A&P 125 Franklin Tnpk, Mahwah, NJ
A&P 1260 Springfield Ave, New Providence, NJ
A&P 610 Columbus Ave, Thornwood, NY
A&P 2160 Lemoine Ave, Fort Lee, NJ
A&P 520 Chestnut Ridge Road, Woodcliff Lake, NJ
A&P 660 Mclean Ave, Yonkers, NY
A&P 3105 East Main Street, Mohegan Lake, NY
A&P 123-125 Main Street, Denville, NJ
A&P 125 18th Street, Jersey City, NJ
A&P 45 Demercurio Drive, Allendale, NJ
A&P 1511 Rte 22, Brewster, NY
A&P 801 Kenilworth Blvd, Kenilworth, NJ
A&P 907D Oak Tree Road, South Plainfield, NJ
A&P 5774 Berkshire Valley Rd, Jefferson Township, NJ
A&P 530 Rt 515 Unit 1, Vernon
A&P 507 Prospect Ave, Little Silver, NJ
A&P 614 Clinton St, Hoboken, NJ
A&P Rt 22 and Rt 138, Goldens Bridge, NY
A&P 829 Route 82, Hopewell Junction, NY
A&P 12-14 Cedar Street, Bronxville, NY
A&P 510 Valley Road, Montclair, NJ
A&P 1201 High Ridge Road, Stamford, CT
A&P 3 Village Center, Mahopac, NY
A&P 1060 Raritan Road, Clark, NJ
A&P 5 Ortley Plaza, Ortley Beach, NJ
A&P 455 Rt23 North, Sussex, NJ
A&P 261 South Ridge St, Rye Brook, NY
A&P 160 West Putnam Avenue, Greenwich, CT
A&P 1886 Pleasantville Road, Briarcliff Manor, NY
A&P 152 Route 94, Blairstown, NJ
A&P 1261 East Putnam Avenue, Riverside, CT
A&P 777 White Plains Road, Eastchester, NY
A&P 199 Kinderkamack Rd, Park Ridge, NJ
A&P 103 Knollwood Road, Greenburgh, NY
A&P 1366 East Main Street, Shrub Oak, NY
A&P 55 Riverwalk Drive West, West New York, NJ
A&P 23 Quaker Ridge Road, New Rochelle, NY
A&P Rte 44 & North Ave, Pleasant Valley, NY
A&P 288 Elm Street, New Canaan, CT
A&P 990 Shrewsburry Ave, Tinton Falls, NJ
A&P 3500 Route #9, Old Bridge, NJ
A&P 75 Mayhill Street, Saddle Brook, NJ
A&P 177 Washington Valley Rd, Warrenville, NJ
Pathmark 321 Stadium Plaza, Jersey City, NJ
Pathmark 58 Broad Way, Elmwood Park
Pathmark 481 River Road, Edgewater, NJ
Pathmark 2101-41 Cottman Ave, Philadelphia, PA
Pathmark 4100 Park Avenue, Weehawken, NJ
Pathmark 80 New Bridge Road, Bergenfield, NJ
Pathmark 281-295 Ferry Street, Newark, NJ
Pathmark 5100 Wellington Avenue, Ventnor, NJ
Pathmark 7700 Crittenden St, Philadelphia, PA
Pathmark 100 College Square, Newark, DE
Pathmark 4365 Kirkwood Highway, Wilmington, DE
Pathmark 643 Conchester Highway, Boothwyn, PA
Super Fresh 180 West Girard Ave, Philadelphia, PA
Super Fresh 9507 Coastal Hwy, Ocean City, MD
Super Fresh 1305 West Chester Pike, Havertown, PA
Super Fresh 609 East Bay Avenue, Manahawkin, NJ
Super Fresh 800 2nd Street Pike, Richboro, PA
Super Fresh 1812 Marsh Rd, Wilmington, DE
Super Fresh 305 S. Fifth St, Philadelphia, PA
Super Fresh 800 West Ave, Ocean City, NJ
Super Fresh 1001 South Street, Philadelphia, PA
Super Fresh 18578 Coastal Highway, Rehoboth, DE
Super Fresh 2400 Delaware Avenue, Wildwood, NJ
Super Fresh 250 E Lancaster, Wynnewood, PA
Super Fresh 1025 Youngsford Road, Gladwyne, PA
Sold To Stop & Shop
A&P 195 North Bedford Rd, Mt Kisco, NY
A&P 400 Demarest Avenue, Closter, NJ
Pathmark 407 Valley Street, South Orange, NJ
Pathmark 460 Franklin Avenue, Franklin Square, NY
Pathmark 130 Wheatley Plaza, Greenvale, NY
Pathmark 1720 Eastchester Road, Bronx, NY
Pathmark 2136 Bartow Avenue, Bronx, NY
Pathmark 625 Atlantic Avenue, Brooklyn, NY
Pathmark 2965 Cropsey Avenue, Brooklyn, NY
Pathmark 134-40 Springfield Blvd, Jamaica, NY
Pathmark 92-10 Atlantic Avenue, Ozone Park, NY
Pathmark 31-06 Farrington Street, Whitestone, NY
Pathmark 4055 Merrick Road, Seaford, NY
Pathmark 1351 Forest Avenue, Staten Island, NY
Pathmark 961 East 174th Street, Bronx, NY
Pathmark 25 Kinnelon Road, Kinnelon, NJ
Waldbaums 85 E. Park Ave, Long Beach, NY
Waldbaums 702 Hicksville Road, Massapequa, NY
Waldbaums 167 Main St. Jagger Lane, Southampton, NY
Waldbaums 905 Atlantic Ave, Baldwin, NY
Waldbaums 156-01 Crossbay Blvd., Howard Beach
Waldbaums 60 Wall Street, Huntington, NY
Waldbaums 67 Newtown Lane, Easthampton, NY
Waldbaums 112-15 Beach Channel Drive, Bell Harbor, NY
Waldbaums 213-15 26th Avenue, Bay Terrace, NY
Sold to Key Food
A&P 422 Old Post Road, Bedford, NY
A&P 5661 Riverdale Ave, Bronx, NY
A&P 355 Halsted Ave, Harrison, NY
Food Basics 289 Bergen Blvd., Fairview, NJ
Food Basics 937 Lincoln Ave, Glen Rock, NJ
Food Basics 465 Getty Ave, Paterson, NJ
Food Emporium 1175 3rd Avenue, New York, NY
Food Emporium 452 West 43 St, New York, NY
Food Emporium 810 8th Avenue, New York, NY
Food Emporium 10 Union Sq 14th & Park, New York, NY
Pathmark 130 Midland Avenue, Port Chester, NY
Pathmark 100 Greaves Lane, Staten Island, NY
Pathmark 1525 Albany Avenue, Brooklyn, NY
Waldbaums 812 Montauk Hwy Ctr., Moriches, NY
Waldbaums 10205 Main Rd, Mattituck, NY
Waldbaums 1050 Willis Avenue, Albertson, NY
Waldbaums 35-09 Francis Lewis Blvd, Bayside, NY
Waldbaums 196-35 Horace Harding Expressway, Flushing, NY
Waldbaums 1-1 Park Plaza, Glen Head, NY
Waldbaums 259-01 Union Turnpike, Glen Oaks, NY
Waldbaums 82-35 153rd Ave, Howard Beach
Waldbaums 75-55 31St Ave, Jackson Heights, NY
Waldbaums 375 Tompkins Ave, Rosebank, NY
Waldbaums 2424 Flatbush Avenue, Brooklyn, NY
A&P 20 Welcher Ave, Peekskill, NY (pending court approval)
Sold to Wakefern
A&P 1 Padanaram Road, Danbury, CT
A&P 1643 Route 82, Lagrangeville, NY
Pathmark 3901 Hempstead Turnpike, Bethpage, NY
Pathmark 2335 New Hyde Park Road, New Hyde Park, NY
Pathmark 5005 Edgemont Avenue, Brookhaven, PA
Pathmark 140 North McDade Boulevard, Glenolden, PA
Pathmark 330 Oregon Avenue, Philadelphia, PA
Pathmark 3399 Aramingo Avenue, Philadelphia, PA
Pathmark 4160 Monument Avenue, Philadelphia, PA
Pathmark 421 S. 69th Street, Upper Darby, PA
Pathmark 1000 Easton Road, Wyncote, PA
Waldbaums 1960 Deer Park Avenue, Deer Park, NY
Waldbaums 133-11 20th Avenue, College Point, NY
Sold to Best Yet
Pathmark 492 East Atlantic Avenue, East Rockaway, NY
Waldbaums 84 Jericho Tpke, Commack, NY
Waldbaums 1686 Merrick Rd, Merrick, NY
Waldbaums 70 Sunset Ave, West Hampton, NY
Food Emporium 316 Greenwich St, New York,
Pathmark 155 Islip Avenue, Islip, NY
Pathmark 800 Montauk Highway, Shirley, NY
Pathmark 531 Montauk Highway, West Babylon, NY
Waldbaums 40 Great Neck Road, Great Neck, NY
Waldbaums 211 Middle Country Road, Selden, NY
Sold to Federal Realty
A&P 64 Brick Plaza, Bricktown, NJ
Pathmark 1157 Route 46 East, Parsippany, NJ
Waldbaums 890 Walt Whitman Road, Melville, NY
Sold to Fransula Foods (Compare)
Food Basics 498 East 30th St, East Paterson, NJ
Food Basics 514 Van Houten Ave, Passaic, NJ
Waldbaums 3100 Ocean Ave, Brooklyn, NY
Sold to Bogopa (Food Bazaar)
A&P 425 Anderson Avenue, Fairview, NJ
Pathmark 211 Elmora Avenue, Elizabeth, NJ
Pathmark 101 Wicks Road, Brentwood, NY (pending court approval)
Sold to Morton Williams
Food Emporium 1331 1st Avenue, New York, NY
Food Emporium 1066 3rd Avenue, New York, NY
Sold to CVS
A&P 1233 Nepperhan Ave, Yonkers, NY
Food Emporium 969 Second Ave, New York, NY Sold to CVS
Sold to PSK (Foodtown/Freshtown)
Pathmark 300 West 145th Street, New York, NY
Waldbaums 245 Route 25A, Rocky Point, NY
A&P 2005 Albany Post Rd, Croton on Hudson, NY
Sold to Tawa, Inc. (99 Ranch Market)
Pathmark 561 Route 1, Edison, NJ
Pathmark 420 Grand Street, Jersey City, NJ S
Sold to Lee Associates
Food Basics 1425 Kennedy Blvd., North Bergen, NJ
Pathmark 111-10 Flatlands Avenue, Brooklyn, NY
Sold to Manischevitz Family, LLC
Pathmark 1245 61St Street, Brooklyn, NY
Pathmark 1-37 12th Street, Brooklyn, NY
Sold to Shang Hai Enterprises
A&P 87 Main Street, Hastings, NY
Waldbaums 777 Pulaski Road, Greenlawn, NY
Sold to Brixmore Operating Partnership
Waldbaums 4054 Nesconset Highway, East Setauket, NY
Pathmark 1757 Central Park Avenue, Yonkers, NY
Sold to Estevez Markets (Foodtown)
A&P 216 Old Tappan Rd, Old Tappan, NJ
Sold to Gristede’s
Food Emporium 1450 3rd Avenue, New York, NY
Sold to H Mart
Waldbaums 336 North Broadway, Jericho, NY (pending court approval)
Sold to Kam Man Foods
Food Basics 2185 Coyle Street, Brooklyn, NY
Waldbaums 6400 Amboy Road, Staten Island, NY (pending court approval)
Pathmark 2730 Arthur Kill Road, Staten Island, NY (pending court approval)
Sold to Uncle Giuseppe’s
Pathmark 10 Triangle Plaza – Lake Road Ext., Ramsey, NJ (pending court approval)
Sold to King Kullen
Waldbaums 440 W. Sunrise Highway, N. Patchogue, NY
Sold to Norristown Thriftway, Inc.
Pathmark 176-82 West Chelten Ave, Philadelphia, PA
Sold to AF Norwich, LLC
Food Emporium 250 W 90th St, New York, NY
Sold to Jaime Luna
A&P 230 Saw Mill River Road, Millwood, NY (pending court approval)
Sold to Nicholas Markets (Foodtown)
A&P 315 Pascack Rd, Washington Twp., NJ
Sold to BX&M Food Corp.
Food Basics 414 Main St, Belleville, NJ
Miscellaneous buyers
A&P 805 Mamaroneck Ave, Mamaroneck, NY Sold to CW A&P Mamaroneck, LLC
A&P 460 County Line Road Route 520, Marlboro, NJ Sold to Dave-Marion Corp.
Waldbaums 153-01 10th Ave, Whitestone, NY Sold to Feil Whitestone LLC & 11th Holding
A&P 1002 Rte 36, Navesink, NJ Sold to Navesink Center, LLC
Pathmark 22-00 Maple Avenue, Fairlawn, NJ Sold to Oster Fairlawn Properties, LLC
Pathmark 2060 Sunrise Highway, Bay Shore, NY Sold to Saxon Sunrise Realty, LLC
Pathmark 410 West 207th Street, New York, NY Sold to 410 West 207th Acquisitions, LLC
Super Fresh 2044 New Castle Avenue, New Castle, DE Sold to L&S Properties (pending court approval)
A&P 19 Bellville Ave, Bloomfield, NJ Sold to UB Bloomfield I (pending court approval)
A&P 560 Valley Road, Wayne, NJ Sold to Urstadt Biddle Prop (pending court approval)
Pathmark 2875 Richmond Avenue, Staten Island, NY Sold to Fox Hill II Inc.
To be closed; no sales activity yet
A&P 2101 Route 35, Holmdel, NJ
A&P 325 Highway 35 South, Cliffwood, NJ
Pathmark 1764 Grand Avenue, Baldwin, NY
Pathmark 115 Belmont Avenue, Belleville, NJ
Pathmark 450 West Swedesford Road, Berwyn PA T
Pathmark 2150 Middle Country Road, Centereach, NY
Pathmark 85 Ackerman Avenue, Clifton, NJ
Pathmark 895 Paulison Avenue, Clifton, NJ Tt
Pathmark 50 Racetrack Rd & Route 18, East Brunswick, NJ
Pathmark 420 McDade Boulevard, Folsom, PA
Pathmark 651 North Stiles Street, Linden, NJ
Pathmark 1043 Route 9 North, Old Bridge, NJ
Pathmark 840 Cottman Avenue, Philadelphia, PA
Pathmark 85 Franklin Mills Boulevard, Philadelphia, PA
Pathmark 1256 Indian Head Road, Toms River, NJ
Pathmark 300 South Best Avenue, Walnutport, PA
Pathmark 3901 Lancaster Avenue, Wilmington, DE
Super Fresh 1301 Skippack Pike, Center Square, PA
Super Fresh 2105 Philadelphia Pike, Claymont, DE
Super Fresh 863 East Baltimore Pike, Kennett Square, PA
Super Fresh 1851 South Columbus Boulevard, Philadelphia, PA
Waldbaums 2 Westbury Avenue, Carle Place, NY
Waldbaums 3620 Long Beach Road, Oceanside, NY
Waldbaums 1510 Old Country Road, Riverhead, NY
Status to be determined
A&P 431 County Road 513, Califon
A&P 668 Central Park Avenue, Scarsdale, NY
Best Cellars/A&P Wine & Spirits 767 Pine Street, Bristol, CT
Best Cellars/A&P Wine & Spirits 57 Route 46, Hackettstown, NJ
Best Cellars/A&P Wine & Spirits 1069 Ringwood Ave, Haskell, NJ
Best Cellars/A&P Wine & Spirits 1103 Howard Blvd, Ledgewood, NJ S
Best Cellars/A&P Wine & Spirits 45 Pearl Street, Metuchen, NJ
Best Cellars/A&P Wine & Spirits 25 Broadway Ave, Mystic, CT
Best Cellars/A&P Wine & Spirits 282 Elm Street, New Canaan, CT
Best Cellars/A&P Wine & Spirits 2400 Berlin Tpk, Newington, CT
Best Cellars/A&P Wine & Spirits 40 Fenn Road, Newington, CT
Best Cellars/A&P Wine & Spirits 28A Halls Rd, Old Lyme, CT
Best Cellars/A&P Wine & Spirits 534 Bergen Blvd, Palisade Park, NJ
Best Cellars/A&P Wine & Spirits 1205 Richmond Ave, Pt Pleasant, NJ
Best Cellars/A&P Wine & Spirits 46B Danbury Rd, Ridgefield, CT
Best Cellars/A&P Wine & Spirits 1237 East Putnam Ave, Riverside, CT
Best Cellars/A&P Wine & Spirits 23 Summit Ave, Summit, NJ
Best Cellars/A&P Wine & Spirits 117 Boston Post Rd, Waterford, CT
Best Cellars/A&P Wine & Spirits 30 Irvington Ave, Westwood, NJ
Food Emporium 2415 Broadway, New York, NY
Pathmark 3020 Route 35 & Bethany Rd, Hazlet, NJ
Pathmark 35 Lackawanna Plaza, Montclair, NJ
Pathmark 160 East 125th Street, New York, NY
Pathmark 5145 Nesconset Hwy, Port Jefferson Station, NY
Pathmark 2660 Hylan Avenue, Staten Island, NY
Super Fresh 401 New London Rd, Newark, DE
Waldbaums 81-21 N Utrecht Ave, Brooklyn, NY
Waldbaums 2149 Ralph Ave, Brooklyn, NY
Waldbaums 2475 Jericho Turnpike, Garden City, NY S
Waldbaums 4560 Sunrise Hwy, Oakdale, NY
Unsold at auction
A&P 7 Naughright Rd, Hackettstown, NJ
Pathmark 1600 St Georges Avenue, Avenel, NJ
Pathmark 757 Rt. 15, Lake Hopatcong, NJ
Pathmark 2540 Central Park Avenue, Yonkers, NY
Not offered at auction
A&P 407 King George Road, Basking Ridge, NJ
A&P 525 East Route 46, Belvidere, NJ
A&P 550 Myrtle Ave, Boonton, NJ
A&P 49 Old Route 22, Clinton, NJ
A&P 1185 Amboy Ave, Edison, NJ
A&P 105 South Ave, Fanwood, NJ
A&P 47 Wanaque Avenue, Pompton Lakes, NJ
A&P 148 Center Grove Road, Randolph, NJ
A&P 459 Route 31 South, Washington, NJ
A&P 1938 Union Valley Road, West Milford, NJ
A&P 1730 Route 46 West, Woodland Park, NJ
A&P 3101 Route 22, Patterson, NY
A&P 14 Lake Ridge Plaza, Valley Cottage, NY
A&P 510 Milltown Road, North Brunswick, NJ
Food Basics 15501 Bustleton Ave, Philadelphia, PA
Food Basics 8920 Frankford Avenue, Philadelphia, PA
Food Emporium 401 East 59th St, New York, NY
Pathmark 10 South Avenue, Garwood, NJ
Pathmark 405 State Route 17 South, Hackensack, NJ
Pathmark 95-101 New Brunswick Ave, Hopelawn, NJ
Pathmark 474-79 Lyons Avenue, Irvington, NJ
Pathmark 175 Lakeside Boulevard & Center, Landing, NJ
Pathmark 242 Lincoln Boulevard, Middlesex, NJ
Pathmark 167 Bergen Street, Newark, NJ
Pathmark 195 Rockland Center East Rt 59, Nanuet, NY
Pathmark 148 Sunset Boulevard, New Castle, DE
Pathmark 1930 Route 88, Brick Twp., NJ
Pathmark 683 Old Country Road, Dix Hills, NY
Pathmark 5801 Sunrise Highway, Holbrook, NY
Pathmark 941 Carmans Road, Massapequa, NY
Pathmark 1251 Deer Park Avenue, North Babylon
Pathmark 399 Route 112, Patchogue, NY
Pathmark 500 Lincoln Highway, Fairless Hills, PA
Pathmark 3021 Grays Ferry Avenue, Philadelphia, PA
Pathmark 2900 N. Broad St. & Glenwood Ave, Phila., PA
Pathmark 8700 Frankford Avenue, Philadelphia, PA
Super Fresh 12741 Ocean Gateway, Ocean City, MD
Super Fresh 323 West Bridge Street, New Hope, PA
Super Fresh 7162 Ridge Ave, Philadelphia, PA
Waldbaums 1530 Front Street, East Meadow, NY
Waldbaums 1236 Veterans Highway, Hauppaugue, NY
Waldbaums 50 E. Hoffman, Lindenhurst, NY
Waldbaums 5508 Sunrise Hwy, Massapequa, NY
Waldbaums 2162 Nesconset Highway, Stony Brook, NY
Notes: The bankruptcy process continues and more hearings are planned for later this month. While A&P will close all stores by Thanksgiving, it has received approval from the U.S. Bankruptcy Court to maintain control of all unsold stores until February 15, 2016 (presumably to create more value for creditors as opposed to those unsold stores reverting back to landlord control). A&P is also attempting to sell its intellectual property, including the A&P, Pathmark and Waldbaums banner names and brands such as Jane Parker and America’s Choice. In a separate intellectual property transaction, Key Food has put in a bid of $1.75 million to acquire the Food Emporium name and related intellectual property rights to that name.
*Property was approved for sale to CVS with agreement to devote a portion of the
space to a Key Food operator.