-
A&P completes auction of 25 Superfresh stores
MONTVALE, .N.J. — The Great Atlantic & Pacific Tea Company announced that it recently completed the previously announced auction of 25 southern Superfresh locations, as it continues to fully implement its comprehensive financial and operational restructuring. The winning bids, which are subject to approval from the bankruptcy court before the sales would be completed, will be listed in motions of the company to be filed with the court on May 27.
The winning bids are as follows:
-
Report: India closer to allowing foreign retail investment
New Delhi, India — A Thursday report by Bloomberg said that India will announce new rules for foreign investment in retail by April 2012, which will pave the way for Wal-Mart Stores and Carrefour SA to open stores in the country.
“We are much further down the process than people think,” said Junior Trade Minister Jyotiraditya Scindia in an interview with Bloomberg. “I think it is a huge opportunity” for India.