Retail News Breaks Archives
Drug chains pick up Rx files from A&P's Superfresh
May 26th, 2011
MONTVALE, N.J. – Walgreen Co. and CVS/pharmacy are acquiring prescription customer lists from several Superfresh stores being auctioned off by A&P.
The Mid-Atlantic supermarket chain said Wednesday that the prescription files of seven Superfresh stores were awarded in the auction, with three going to Walgreens, one to CVS and three to Safeway Inc.
A&P, which is in Chapter 11 bankruptcy protection, announced in April that it planned to sell off 25 Superfresh supermarkets in Maryland (22 units), Delaware (two stores) and the District of Columbia (one location) via auction, saying that the stores weren't in the chain's core market area.
In the auction, Supervalu Inc. had the winning bid for one Maryland store, and a joint venture of Village Supermarkets Inc. and Mrs. Greens Management Corp. had the prevailing bid for 10 Superfresh locations (nine in Maryland and one in Washington, D.C.). Another Maryland store is being acquired by its landlord through the auction.
A&P said that based on these results, it expects auction proceeds of more than $40 million.
The bankruptcy court is expected consider A&P's motions on the proposed sales at a June 14 hearing, with the company slated to cease operating the 12 stores by mid-July. Plans call for the 13 Superfresh stores not sold at auction to be closed by mid-July.
Overall, A&P operates 361 stores in eight states and the District of Columbia under the banners A&P, Waldbaum’s, Pathmark, Best Cellars, The Food Emporium, Superfresh and Food Basics.