Supermarket operator The Great Atlantic & Pacific Tea Co. said it is considering "strategic alternatives," including selling some of its more than 300 stores.
The Montvale, New Jersey-based company -- whose brands on Long Island include Pathmark and Waldbaum's, and which also operates A&P, Food Emporium, Super Fresh, Food Basics, and Best Cellars stores in six Northeast states -- informed its employees and union and trade partners in March about its planned move, the company said in a statement Thursday.
"A&P is currently reviewing strategic alternatives for its business," company spokeswoman Dana Regan said in the statement. "The review includes, but is not limited to, raising new capital from investors, considering new business partner relationships and exploring the sale of certain assets of the company. . . . The review process is ongoing and no decisions have been made."
Several local unions of the United Food and Commercial Workers International Union (UFCW), including Westbury-based Local 1500, representing a total of more than 30,000 A&P workers, told their members earlier this week in a statement that they had confirmed that A&P is "actively seeking potential buyers for part or all of the company" and that "several companies are interested in buying A&P in whole or in part."
The 156-year-old company said all of its stores will be open for business throughout the process. As of last year, there were at least 34 Waldbaum's and 20 Pathmarks remaining in Nassau and Suffolk counties, after the company had closed at least a dozen Waldbaum's and four Pathmark stores on Long Island from 2010 to 2014.
"The Company is committed to continuing to serve its customers and communities as it always has and intends to keep its stores fully staffed," Regan said.
A&P filed for bankruptcy in 2010 and became privately held when it emerged from bankruptcy protection in 2012.