-
Ikea gets top accolades in Europe
BRUSSELS - Ikea announced that it has been named the winner of 'Retailer of the Year Europe' 2010. Retailer of the Year is the largest consumer survey in Europe and this year the survey was held in no less than 10 European countries. More than 1.45 million consumers participated in the consumer survey and assessed over 1,100 retail chains, according to the company.
In seven out of the 10 countries, Ikea is in the top five of the 'best' retail chains, the company reported.
-
Court accepts A&P's DIP facility
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: