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The Great Atlantic & Pacific Tea Co. (A&P) has revealed the winning bids for three New Jersey stores as part of its Chapter 11 bankruptcy proceedings, according to published reports.
Estevez Markets Inc. submitted the top bid for an A&P store in Old Tappan, and Fransula Foods LLC entered a successful bid for two Food Basics locations in Passaic and Paterson, while other stores face an additional round of bidding on Thursday, Oct. 8. Last week, Montvale, N.J.-based A&P said it would put a total of 82 stores up for auction.
In New York, successful bidders for various stores across the state included Best Yet Market, CVS, Food Partners, Gristedes, H Mart, Key Food, King Kullen, Met Foods, Shang Hai Enterprises, Wakefern Food Corp. and several real estate entities
Last week, the Bronx, N.Y.-based Morton Williams supermarket chain emerged as the top bidder for three Food Emporium stores in Manhattan, for which it offered to pay more than $22 million, while Food Bazaar offered $11.75 million for four stores in Brooklyn and New Jersey.
The bankruptcy court has already approved the sales of 95 stores to Stop & Shop and Acme Markets.
A&P declared bankruptcy last July.