A&P to sell six Pathmark stores
November 10, 2010
by Eric Schroeder
MONTVALE, N.J. — Winstanley Enterprises, L.L.C. has agreed to buy six of The Great Atlantic & Pacific Tea Company, Inc.’s Pathmark stores for $89.8 million. The stores, which are 95% occupied and leased to A&P, are located in New York, New Jersey, Pennsylvania and Delaware.
“This agreement is another step forward in our comprehensive turnaround strategy,” said Sam Martin, president and chief executive officer of A&P. “We continue to analyze areas across the business to identify ways such as these to further strengthen our financial foundation and improve our performance.”