Great Atlantic and Pacific Tea Co.The Great Atlantic & Pacific Tea Co. (GAP), once the largest grocer in the United States, filed for Chapter 11 bankruptcy protection Sunday.

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.

In recent years, the grocery chain operator has struggled to deal with a growing debt burden and competition from low-cost retailers.

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.

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zombywoof762

This needs to be looked at closer. Two years ago A&P bought pathmark& superfresh, seemed to be fiscally sound then. It appears grocery chains are learning from the financial sector. Next they will raid the workers pensions then sell off the debts and assets to a foreign company , while the ceo and his cronies walk away with millions.
Couldn't have happened to a better grocery chain. (pathmark) Fuk your mistake policy in receiving..

December 15 2010 at 6:08 AM Report abuse rate up rate down Reply
rosemaryram

Sorry. I do not feel sorry for A&P corporate management, just the loyal employees. A&P had the most unkept, dirtiest grocery stores I had ever visited. Never went back. Give me Walmart today;I just bought a cart load of name brand groceries for $57.00; it was a super Walmart,a huge store that was very clean and orderly.

December 14 2010 at 10:33 PM Report abuse rate up rate down Reply
blazer

I wonder if A%P is where Charlie picks up all his women?

December 14 2010 at 3:52 PM Report abuse +1 rate up rate down Reply
joejteacher951

Thats not a bad asset to debt ratio! 3 to 2 billion Man in the 1970's that would have been 3 to 2 million! Inflation or just the 21st century?

December 14 2010 at 4:00 AM Report abuse rate up rate down Reply
tony

Reminds me of where I used to work here in cedar rapids ia. Was for the me too store. I worked there 9 years, I did everything for them, was 1 of the best employees they ever had. Started out at $1.60 an hour, but left making 9.15 an hour. The morons there decided I made to much, even though I never ever asked for a raise. I just kept getting raises cause I was a superior employee. Then my last supervisor, whom I wont even bother to mention the name of, said I made to much, and said hit the road. I had the last laugh though, that worthless hunk of trash got fired for molesting a sales women and then the whole comp went down. LOL LOL LOL LOL, well good riddance to them worthless hunks of crap. If they had any brains they would not have fired me and the f in company would still be going strong. O well, good riddance.

December 14 2010 at 1:49 AM Report abuse rate up rate down Reply
1 reply to tony's comment
Ellen

You sure thinkk a lot of yourself. The company went out of business because you were fired? Get over yourself!

December 14 2010 at 5:02 AM Report abuse +1 rate up rate down Reply
shibbyying

Ben Dover is Realistate dealer in Griffin Ga. His sighns are up all over, but to see em you have to Ben Over and hes There...

December 13 2010 at 9:46 PM Report abuse -1 rate up rate down Reply
shibbyying

I wish it was Piggly Wiggly Instead They have the Nastiest stores Nasty Meats and meat cutters look like Larry the Cable guy. Out of date can foods Old produce ect. There has to Be a Wal-mart if it wasnt them it would be another company. Its the way of the future out with they old in with the New. We all want New. New cars New Houses, New wife or new Husban No ones Happy, Well most no one. Wesly Snipes wifes Happy LOL,

December 13 2010 at 9:44 PM Report abuse rate up rate down Reply
gbelter777

Anyone here no Ben Dover

December 13 2010 at 9:26 PM Report abuse +1 rate up rate down Reply
olddon48

My favorite A&P was at the corner of St. Peter Street and Royal Street in the French Quarter in New Orleans. The store was tiny, the aisles barely wide enough for only one person at a time to navigate. The cast of characters that shopped there was amazing. There were male hustlers, aging grand-dames of high society, strippers from Bourbon Street and tourists that could not believe an A&P was in such a neighborhood. I will miss the A&P's should they all close.

December 13 2010 at 8:37 PM Report abuse +5 rate up rate down Reply
1 reply to olddon48's comment
frank

Sounds like an interesting store and story. There was a small A&P in Hamden, CT I would go to when I was a teenager--I would shop there for quick items--it was a very small store but interesting, quirky workers as well as customers would be there. There seemed to be only one cashier working there---it was very interesting. Thanks for your story!

December 13 2010 at 10:57 PM Report abuse +3 rate up rate down Reply
gusgus122

I haven't seen an A&P since I was a kid but I'm still bummed about it. I have to blame Wally World tho.

December 13 2010 at 8:10 PM Report abuse +4 rate up rate down Reply