Report: Iconic supermarket chain may file Chapter 11

Montvale, N.J. – A supermarket chain that was founded two years before the Civil War began may be going the way of the Confederate flag.



According to the New York Post, The Great Atlantic & Pacific Tea Co. (A&P) may file for Chapter 11 bankruptcy as soon as this week.



Privately held A&P, which operates about 300 stores under various banners, is expected to file a “prepackaged” bankruptcy that would spin off its best-performing stores and effectively end the existence of the company. A&P is said to have retained Evercore Partners to assist with a bankruptcy filing.



Kroger, Ahold and Acme Supermarkets are among the supermarket chains that may be interested in purchasing some A&P-owned stores if a bankruptcy filing takes place.



An A&P spokesperson said no decision has been made about filing for bankruptcy.