July 22, 2015
Weil is representing The Great Atlantic & Pacific Tea Company, Inc. (A&P) in its recent chapter 11 case filed in the U.S. Bankruptcy Court for the Southern District of New York. It is the second bankruptcy filing in five years for the Montvale, New Jersey-based company, which listed $1.6 billion in assets against liabilities of $2.3 billion.
As part of the chapter 11 plan, A&P will close 25 of its 296 grocery stores. The company also plans to sell another 120 stores for $600 million to grocery rivals including Acme Markets Inc., Key Food Stores Co-operative Inc. and The Stop & Shop Supermarket Co.
A hearing will be held on Monday, July 27 before the Honorable Robert D. Drain, United States Bankruptcy Judge, to consider certain motions of the debtors.
The Weil team representing A&P is led by Business Finance & Restructuring partners Ray C. Schrock, P.C. and Garrett Fail; M&A partner Gavin Westerman; Business Finance & Restructuring associates Sunny Singh, Candace Arthur, Dana Kaufman, Adam Lavine, Brian Wells, Nelly Almedia, Danielle Donovan, and Alana Heumann; and M&A associate Joanna Bliss.