MONTVALE, N.J. -- The judge in A&P's federal bankruptcy case on Monday approved a plan for the company to seek to emerge from Chapter 11 early next year behind a $490 million going-private transaction headed by Yucaipa Cos. Creditors could vote on the plan next month.
Burkle Sees Value In A&P
MONTVALE, N.J. — Ron Burkle, the supermarket magnate whose prior investments in A&P were not enough to keep the retailer from bankruptcy, is doubling down....
Although a labor deal underpinning the transaction had not been reached after weekend negotiations, a spokesman for a local chapter of the United Food and Commercial Workers told SN Monday that unions would seek to present a confidential settlement proposal to the court.
"To be clear, no tentative agreement has been reached between the Unions and A&P," Pat Purcell, the spokesman for UFCW Local 1500, said.