MONTVALE, N.J. Grocer A&P has announced an agreement with Big Y Foods to sell seven stores in northern Connecticut as part of its turnaround strategy. The stores are expected to close at the end of October.
"We continue to evaluate our operating footprint and its alignment with our turnaround strategy. These seven stores were clearly outside of our core markets, and their sale was necessary," stated Sam Martin, president and CEO of A&P.
Martin continued, "The company faces many difficult decisions over the next several months, which are required to strengthen our foundation and improve our performance going forward. As we implement these initiatives, we remain mindful of the impact on our associates. I would like to thank the affected associates for all of their hard work and dedication over the years."
The grocer currently operates 429 stores in eight states and the District of Columbia under the following trade names: A&P, Waldbaum's, Pathmark, Pathmark Sav-a-Center, Best Cellars, The Food Emporium, Super Foodmart, Super Fresh and Food Basics.