According to multiple reports, A&P, formally known as the Great Atlantic and Pacific Tea Company, has hired Credit Suisse to help review strategic alternatives that may include selling the company. A&P brands include Pathmark, which recently announced the closing of three stores in New Jersey, as well as Superfresh, Waldbaum’s, The Food Emporium and Food Basics.
Bloomberg News reports that A&P may also raise new capital from investors, consider new business partners or refinance the company.
A&P, which emerged from bankruptcy last year, has more than 300 locations. The Wall Street Journal said yesterday that the company’s asking price could be as high as $1 billion.