Labor unions representing workers at A&P and its banner companies on Monday said they had confirmed that the retailer is actively seeking buyers and has received interest from several potential purchasers. The company however would not confirm such plans to Supermarket News.
“We have confirmed that A&P is actively seeking potential buyers for part or all of the company. There is interest being shown by several companies regarding a purchase of A&P in whole or in part. The A&P Company has not contacted us directly regarding any such potential sale. We have not met with any representatives of potential buyers to discuss any such purchase.”
Reached by Supermarket News on Monday, a spokeswoman for the chain would not confirm that the company was for sale.
Labor accepted significant concessions as A&P emerged from Chapter 11 bankruptcy protection in 2012. The statement Monday they said they would seek to negotiate with any potential buyers.
“For the past five years all of our local unions have been united, working together to protect and maintain the jobs of over 30,000 UFCW members working under the A&P banner. Please be assured that as we move forward with a potential sale of the company your Local Unions will continue to work together to ensure that the best interests of all of our members are being protected,” the statement said.
“Furthermore, should a sale in fact be pending, we will demand a seat at the table with both the A&P Company and any potential buyers to ensure that our members and their jobs are protected.”
Source: Supermarket News