The Great Atlantic & Pacific Tea Co. (A&P) reportedly has engaged JPMorgan Chase & Co. to find a buyer for its Canadian grocery-store business.
The sale of A&P’s Canadian stores could generate close to a billion dollars in revenue for the company, which in the US has been suffering through declining sales and profits.
Potential buyers include both Sobey’s and Metro, Canada’s second and third biggest supermarket chains.
The sale of A&P’s Canadian stores could generate close to a billion dollars in revenue for the company, which in the US has been suffering through declining sales and profits.
Potential buyers include both Sobey’s and Metro, Canada’s second and third biggest supermarket chains.
- KC's View:
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Many of the folks we speak with believe that for A&P, the bigger more important question is what the company will do with its US stores. Just generating revenue to plug the myriad holes in its finances probably isn’t enough…it has to define, articulate and implement a clear vision for what makes its stores different and relevant to the modern consumer.
We said it two weeks ago and nobody disagreed with us. So we’ll say it again:
Dead company walking.
