A&P Sells Stores, Reveals Insider Payments

Stop&Shop bought A&P’s flagship store in Mount Kisco for $25 million, according to news reports.

The company said in its bankruptcy filing that Mount Kisco was A&P’s top performing store, with gross earnings of $9.2 million last year, according to the Mount Kisco Daily Voice.

The store was sold during a private auction held Oct. 1-2.

A bulk sale of A&P stores to Acme and Stop & Shop occurred in September with five fewer stores than initially listed.

A&P removed the Mount Kisco store because it had received a higher offer--and Stop&Shop then upped its offer to win the bid. Acme dropped stores in Yonkers, Millwood, Bedford and Croton-on-Hudson, N.Y., from its list.

Those also went to the Oct. 1-2 auction, the results of which have not been made public--but according to a posting on the Pleasantville-Briarcliff Buzz, the stores in Chilmark and Thornwood were bought by Acme; Bedford by Key Food and the Katonah store by DeCiccos.

John T. Niccolai, president of New Jersey-based Local 464A of the United Food and Commercial Workers, told Supermarket News that he thought the stores Acme and Stop & Shop bought in September would have their new owners in place by the end of October.

A&P, which was founded in New York 156 years ago, fell on hard times in recent years, particularly after it acquired Pathmark in 2007.

A&P and Pathmark had numerous locations, including Nanuet and Valley Cottage in Rockland County and Bedford, Brewster, Goldens Bridge, Mount Kisco, Port Chester, Yorktown Heights, Thornwood, Harrison, Millwood, Mahopac, Scarsdale, New Rochelle, Hastings-on-Hudson, Croton-on-Hudson, Mamaroneck, Greenburgh, Bronxville, Yonkers, Briarcliff Manor, Shrub Oak, Mohegan Lake and Peekskill in Putnam and Westchester counties.

None of those stores were designated for closure.

In other A&P bankruptcy news, in filings Wednesday A&P detailed $12.6 million in payments for top executives and directors right before it filed its Chapter 11 bankruptcy. The company set up a trust and paid bonuses, expenses, vacations, call allowances and the like, Supermarket News reported.