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The Great Atlantic and Pacific Tea Co. (A&P) will sell its 16 Food Emporium stores in Manhattan, a spokeswoman for the Montvale, N.J.-based grocer has confirmed to Progressive Grocer.
A&P’s Marcy Connor said that grocer had “commenced a marketing process of The Food Emporium in early September.” She added that the company couldn’t anticipate when a sale might be finalized.
One remaining store in the gourmet food chain, located in New Canaan, Conn., won’t be part of any sales deal. “We intend to continue operating the Connecticut store,” Connor told PG. “We’ve not made any decision about the banner name.”
The decision is A&P’s first major action since emerging from bankruptcy this past March. The company has shuttered nearly 80 stores since filing for bankruptcy protection in December 2010.
Connor earlier told The Record in New Jersey's Bergen County, “The Food Emporium represents a unique urban footprint that requires a specific go-to-market strategy.” She noted that selling off the stores would allow A&P “to support the company’s long-term strategic vision to be the No. 1 food and drug store in every neighborhood it serves.”