News

Court accepts A&P’s DIP facility

BY Antoinette Alexander

MONTVALE, N.J. — Bankrupt grocer A&P has announced that the U.S. Bankruptcy Court for the Southern District of New York has approved the $800 million debtor-in-possession financing provided by JPMorgan Chase. Of the total DIP facility, a $350 million term loan immediately has been made available.

As previously reported, A&P filed for bankruptcy on Sunday and will keep its 395 stores open and operational during the proceedings.

In addition, the court granted A&P’s motion to approve its request for "first day orders," including:

  • Immediate authority to pay employees’ salaries and wages and to continue providing health and other employee benefits to them;

  • Authority to pay certain pre-petition obligations to critical vendors and suppliers in the ordinary course; and

  • Authority to continue to satisfy all of its pre-petition obligations to customers, including existing loyalty and promotional programs.

Founded in 1859, A&P is one of the nation’s first supermarket chains. Aside from its namesake A&P chain, the company also owns Waldbaum’s, Pathmark, Best Cellars, The Food Emporium, Super Fresh and Food Basics banners.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?
News

CVS develops photo app for Facebook users

BY Antoinette Alexander

WOONSOCKET, R.I. — CVS/pharmacy has launched its new CVS Express Photo app, which enables Facebook users to order prints from their Facebook albums without leaving the website, with prints ready for pickup in about an hour at their local CVS/pharmacy.

"Facebook has become a popular and easy way to share photos online with family and friends," stated Grant Pill, VP merchandising for CVS/pharmacy. "We introduced the CVS Express Photo app to give people the ability to print photos and share them offline with the same ease by picking them up at any CVS/pharmacy location in as little as an hour."

To get started, customers can visit Facebook.com/CVS and click the "photo app" tab at the top of the page. Once customers provide permission to allow the application to access their account to retrieve photos, prints can be ordered in four steps: choose photos, review cart, select store and then submit to print. Three print sizes currently are available through the application — customers can order 4×6, 5×7 and 8×10 prints.

The new CVS Express Photo app, which was developed by Marketing Drive, alerts users when an image is not high-resolution enough for clear print quality, typically when printed at larger sizes.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?
News

Whole Foods salutes military with free overseas shipping

BY Allison Cerra

AUSTIN, Texas — Whole Foods is offering free overseas shipping of its holiday gift boxes to APO, FPO and DPO addresses.

Whole Foods Market offers five different gift boxes that range from $40 to $60 each that can be purchased online at WholeFoodsMarket.com/giftbox.

"We are thankful for the sacrifices made by families serving our country, so we are happy to offer this small token of our appreciation to them," said Jim Speirs, global VP purchasing for Whole Foods Market. "Families can send their loved ones a taste of home with any of our gift boxes, varying in theme from snacking to relaxation."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?