A&P Files for Chapter 11 Bankruptcy Protection
The company filed for protection in White Plains, N.Y., listing total debts of more than $3.2 billion and assets worth about $2.5 billion, The Associated Press reported.
The 151-year old company operates 395 stores around the Northeast under the brands A&P, Waldbaum's, The Food Emporium, Super Fresh, Pathmark and Food Basics.
The company reported revenue of $9.5 billion in 2008, dropping to $8.8 billion in 2009. In its most recent quarter, A&P said revenue was still falling.
A&P said all stores are fully stocked and opened for business.