Technology Slice Blog

A&P Files For Bankruptcy - A&P, the troubled grocer, filed for Chapter 11 bankruptcy protection Sunday, weighed down by a crushing debt load and competition from low-price rivals. The Montvale, N.J.-based grocery-store chain—formally called the Great Atlantic & Pacific Tea Co.—listed total debts of more than $3.2 billion and assets of about $2.5 billion in a bankruptcy petition filed in White Plains, N.Y., bankruptcy court. The grocery chain secured $800 million in so-called debtor-in-possession financing from J.P. Morgan Chase & Co. to keep it afloat during bankruptcy proceedings. A&P A&P has been bleeding red ink and most recently posted a $153.7 million loss in the quarter ending Sept. 11. The chain has been through four chief executives in a little more than a year. Aside from its namesake A&P chain, the company owns Waldbaum's, Food Emporium, Super Fresh, Food Basics and Pathmark. A person familiar with the situation said A&P's ...