A&P Deal Approved

The deal to sell 95 A&P (Montvale, N.J.) stores to Acme (Malvern, Penn.) and Stop & Shop (Quincy, Mass.) for $370 million was approved this week. The stores are expected to be converted to Acme and Stop & Shop stores later next month.

Part of the deal with Acme and Stop & Shop is that along with the sale of the company, the retailers would preserve the jobs of current union workers. Currently, there are 10,750 A&P union employees, and Acme and Stop & Shop are in negotiations with the workers’ unions.

There are 176 more stores that A&P owns that it is seeking to sell, and the fate of those jobs are uncertain. The company filed for bankruptcy July 19 and plans to either sell or close all its stores, reports The Record.