PHILADELPHIA (WPVI) -- Grocery store operator A&P is filing for Chapter 11 bankruptcy with plans to close or sell off stores as it faces increasingly tough competition.
A&P also operates Pathmark and Superfresh stores in our area.
This marks the second time in five years that the Montvale, New Jersey-based company has filed for bankruptcy. This time around, it said it has more than 100,000 creditors along with more than $1 billion in liabilities and over $1 billion in assets.
The company plans to sell as many of its 296 stores as possible and said in a filing with U.S. Bankruptcy Court in New York that it has bidders for 120 of those operations with expected proceeds of $600 million.
In a statement, A&P said it will close 25 stores in the near-term due to "lack of interest and significant ongoing store operating losses."
Stores slated to close are:
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)
Pathmark (2150 Middle Country Road, Centereach, NY)
Pathmark (85 Ackerman Avenue, Clifton, NJ)
Pathmark (895 Paulison Avenue, Clifton, NJ)
Pathmark (50 Racetrack Road & Route 18, East Brunswick, NJ)
Pathmark (561 Route 1, Edison, 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)
Superfresh (1301 Skippack Pike, Center Square, PA)
Superfresh (2105 Philadelphia Pike, Claymont, DE)
Superfresh (863 East Baltimore Pike, Kennett Square, PA)
Superfresh (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)
The grocery chain has faced tougher competition from companies like Wal-Mart Stores Inc. and Target Corp. expanding their grocery options. The business has grown even more crowded and competitive with companies like Whole Foods Market Inc. and Fairway Group Holdings Corp. catering to a more health-conscious market.
Some Pathmark, Superfresh stores slated to close