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A&P’s Mays, Hertz, McGarry, Et Al

Need To Be Terminated Immediately

Because they’ve done such an efficient and methodical job of plan-

ning to fire more than 25,000 store level associates, don’t you think

now would be ideal time for the U.S. Bankruptcy Court to terminate the

senior management team at A&P?

Seriously, after greedily mismanaging the bankrupt retailer for the

past five years, why should chairman Greg Mays, CEO Paul Hertz and

chief restructuring officer Chris McGarry be allowed to “earn” another

dime from the company they helped destroy?

At this juncture of the Chapter 11 proceedings, A&P’s “big three”

really serve no purpose; there are no stores they can manage and there

Inside

this issue

taking

stock

By Jeff Metzger

More Than 100 Stores Remain Unsold

A&P Store Auction Underwhelms;

Court May Seek New Bidding

24

Retailers, Suppliers,

Flock To Haddon House

Show At Mohegan Sun

16

King Kullen Annual

Charity Golf Outing

Draws Trade Notables

Vol. 71 No. 10

produce ISSUE

October 2015

The annual Jewel/Osco Acme markets Shaw’s golf outing

was held last month in Boston.

Welcoming vendors to the out-

ing are Dan Croce (l), president of Acme Markets, Jim Perkins (c), EVP

of Albertsons Companies, and Steve Burnham, president of Safeway’s

eastern division. More photos are on page 32.

Bakers of Schmidt, Schmidt Blue Ribbon,

Sunbeam, Old Tyme, Roman Meal, Manischewitz

and Milton’s ne bakery products.

Bag up the Pro ts with

Schmidt Baking Company

Call 1-800-456-2253

to start service

Wal-Mart Gloomy Forecast Creates Retail Market Volatility

Albertsons IPO Delayed; Joe Kelley

Joins Shaw’s As VP-Merchandising

See A&P

on page 29

See albertsons

on page 59

See taking stock

on page 6

News

Food Trade

www.best-met.com

▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲▲

With only 177 of 296 A&P su-

permarkets spoken for as of Oc-

tober 16, it has been a disappoint-

ing store disposal process for the

bankrupt and soon-to-be defunct

retailer and its creditors which

had hoped that the initial four-

day auction process (October

1-2 and October 7-8) would have

yielded more store sales activity.

A list of the status of all stores can

be found on pages 28 and 29.

Several sources indicated that

many of the unsold stores re-

ceived bids that were deemed be-

low the minimal qualifying level

that was projected for each store.

Many of those stores are likely

to be re-bid at a lower minimum

price. Additionally, those same

sources told us that they expect

real estate entities/landlords to

become more actively involved

in the store acquisition process to

protect their shopping centers or

to make side deals with prospec-

tive retail tenants who are looking

for cheaper leaseholds or a non-

union presence. And with such a

large number of units (119) yet

unspoken for, trade observers feel

that as many as 80 supermarkets

could remain dark.

As for the early winners, the

four largest “stalking horse” bid-

ders – Acme Markets (71 stores),

Stop & Shop (25 stores), Key

Food (25 stores) and Wakefern

(13 stores) – all were given court

approval to complete the sales of

those stores. Actually, Key Food

purchased nine more units at

the four-day auction (up from its

original 16 store bid) and Wake-

fern acquired one more store

(College Point, NY) in addition to

the 12 original units it had agreed

to buy. Stop & Shop, whose origi-

nal bid was for 25 stores that was

later amended to 24 units after

A&P’s Mount Kisco, NY super-

market was dropped from the

package, regained that store at

auction with a whopping $25 mil-

lion bid, the highest bid for any

individual supermarket offered

at auction (the Mount Kisco unit

was widely reported to be A&P’s

most profitable store).

Other independent retailers

that made successful bids at the

auction were Best Yet Markets

(four Long Island stores) and

Supermarket chain Albert-

sons Companies has postponed

its planned initial public offering

(IPO) which industry observ-

ers had expected to be launched

about October 15. However, re-

ports say that the company still

intends to go forward with its

IPO plans, and hopes to launch its

publicly-traded debut by Thanks-

giving.

News that the Boise, ID based

retailer would delay its plan to sell

stock came shortly after shares

of Wal-Mart and other retailers

lost value following a particular-