US retailer A&P has said that it has completed the auction of 25 of its Superfresh outlets.
The retailer, which filed for bankruptcy in December last year, said yesterday (25 May) that it expects to raise in excess of US$40m from the sales.
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Some ten stores will be sold to a joint venture between Mrs. Greens Management and Village Supermarkets. One outlet will be sold to Supervalu Inc, another to its landlord, and the prescription customer lists from seven of its outlets were awarded to three different bidders.
A&P plans to close the remaining 13 Superfresh outlets that were not sold at auction. The retailer said these locations are expected to be closed by mid-July, subject to court approval.
“We are pleased with the results of the store auction and want to thank our dedicated asssociates for remaining focused on delivering great service to our customers throughout the sales and marketing process. We also want to thank our customers for their loyal patronage over the years,” said A&P president and CEO Sam Martin.
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