A&P Restructures Debt With Tender Offers

Montvale, N.J., The Great Atlantic & Pacific Tea Co. Inc. cashed in some of its outstanding notes with tender offers to help with the company’s debt. Senior retail analyst Mariza Costa believes the move makes sense because A&P previously had to pay interest on the notes that total in the millions of dollars. Costa said, “Interest expenses will decline substantially per quarter, and the company can concentrate on reorganizing and restructuring.”

The company, which has been having financial difficulties, plans to reorganize and become a “New A&P.”