Bidding Procedure Approved for Sale of Stores in A&P Bankruptcy Case

An order was entered, on August 11, 2015, in United States Bankruptcy Court, Southern District of New York, in case number 15-23007, approving a global bidding procedure for all of the company’s 271 operating stores. The procedure allows for interested parties to submit bids for any of the company’s stores that remain open following the company’s bankruptcy filing on July 19, 2015. The deadline to submit bids is September 11, 2015.

There are stalking horse bids already in place for a combined 118 stores from three separate parties. These stalking horse bids are subject to competing and better offers for these stores. The order indicates if qualifying bids for these stores are received an auction would then take place September 24 and 25, 2015, at a location to be determined.

Bids are also being accepted for the 153 stores not subject to the three stalking horse bids. The potential auction could include competing bids, if received, for any of these stores.

Parties interested in submitting bids can contact the debtors’ advisors, Evercore Group LLC and Hilco Real Estate LLC. The contact individuals and their email addresses are Stephen Goldstein (stephen.goldstein@evercore.com) and Paul Billyard (billyard@evercore.com) of Evercore Group and Gregory Apter (gapter@hilcoglobal.com) of Hilco Real Estate.