The Great Atlantic & Pacific Tea Company Inc. - 500 Beiträge pro Seite
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Since 1859, The Great Atlantic & Pacific Tea Company Inc. (A&P) has fulfilled the shopping needs of families throughout North America with freshness, quality, variety and value.
In December 2007, Pathmark Supermarkets, with its 141 stores, joined the A&P Family of Supermarkets.
With corporate headquarters in Montvale, N.J., A&P operates 395 stores in the United States under 6 retail banners which include conventional supermarkets, food and drug combination stores, discount food stores, and several in-store Health Clinics. A&P employs 40,688 associates. Annualized sales volume is approximately $8.8 billion. The Company's shares are traded on the New York Stock Exchange, under the symbol "GAP."
The Company distributes private label product lines sold exclusively throughout its U.S. banners under the trade names America's Choice, Master Choice, Health Pride, Savings Plus, and Pathmark.
With pride in its 151-year history, The Great Atlantic & Pacific Tea Company today looks forward to a future of continued service to its customers, communities and employees throughout North America.
In December 2007, Pathmark Supermarkets, with its 141 stores, joined the A&P Family of Supermarkets.
With corporate headquarters in Montvale, N.J., A&P operates 395 stores in the United States under 6 retail banners which include conventional supermarkets, food and drug combination stores, discount food stores, and several in-store Health Clinics. A&P employs 40,688 associates. Annualized sales volume is approximately $8.8 billion. The Company's shares are traded on the New York Stock Exchange, under the symbol "GAP."
The Company distributes private label product lines sold exclusively throughout its U.S. banners under the trade names America's Choice, Master Choice, Health Pride, Savings Plus, and Pathmark.
With pride in its 151-year history, The Great Atlantic & Pacific Tea Company today looks forward to a future of continued service to its customers, communities and employees throughout North America.
-63%
Great Atlantic & Pacific Tea (GAP) said to consider filing for bankruptcy as soon as weekend -Bloomberg
PORTLAND, Oregon (dpa) - Die Aktien der Great Atlantic & Pacific Tea Co. verloren mehr als die Hälfte ihres Wertes Freitag nach einem Bericht, der Lebensmittelhändler kann für Konkursverfahren in den kommenden Tagen Datei.
Das Unternehmen, einer der ältesten Supermarkt Betreiber des Landes, nicht sofort auf eine Aufforderung zur Stellungnahme zu reagieren. Great Atlantic & Pacific Tea Co., gegründet 1859 und mit Sitz in Montvale, NJ, besitzt A & P, Waldbaum's, The Food Emporium, Super Fresh, Pathmark und Food Basics Lebensmittelgeschäfte. Er arbeitet in acht Bundesstaaten im Osten der USA
Bloomberg News berichtete am Freitag, daß die Quellen mit der Angelegenheit vertraute das Unternehmen möglicherweise Gläubigerschutz so bald als Datei an diesem Wochenende und dass es Anwaltskanzlei Kirkland & Ellis LLP angeheuert, um die Gesellschaft zu vertreten.
Ein Vertreter von Kirkland & Ellis konnte nicht sofort Stellung zu nehmen.
Die Lebensmittelkette seit mehreren Jahren mit schlechten Verkaufszahlen und schweren Schuldenlast zu kämpfen. Das Unternehmen wurde Berichten zufolge in Gesprächen mit Beratungsunternehmen im Oktober, wie man am besten mit seiner Schuldenlast.
A & P hat in neue Management gebracht, mehrere Geschäfte geschlossen, Arbeitsplätze abzubauen und kündigte im November, dass es wären sechs Pathmark Stores für $ 89.800.000 zu verkaufen. Das Unternehmen hat auch vorher, dass es in Gesprächen mit Banken und Kreditgebern über neue Umstrukturierung seiner Schulden soll. Doch das Unternehmen hat die Trendwende Anstrengungen in der Mitte der Wirtschaft nach unten, wenn Lebensmittelgeschäft Wettbewerb auf seiner steifste worden und es hat zu Ergebnissen führen konnte.
Das Unternehmen berichtete, dass sein Verlust im letzten Quartal verdoppelt und den Umsatz weiter rückläufig.
Aktien des Unternehmens fielen 1,89 $, fast 67 Prozent auf 94 Cent im Handel Vormittag. Aktien sind zwischen 86 Cent und $ 13 in den letzten 52 Wochen gehandelt.
Anhören
Umschrift
Wörterbuch - Detaillierten Wörterbucheintrag anzeigen
Das Unternehmen, einer der ältesten Supermarkt Betreiber des Landes, nicht sofort auf eine Aufforderung zur Stellungnahme zu reagieren. Great Atlantic & Pacific Tea Co., gegründet 1859 und mit Sitz in Montvale, NJ, besitzt A & P, Waldbaum's, The Food Emporium, Super Fresh, Pathmark und Food Basics Lebensmittelgeschäfte. Er arbeitet in acht Bundesstaaten im Osten der USA
Bloomberg News berichtete am Freitag, daß die Quellen mit der Angelegenheit vertraute das Unternehmen möglicherweise Gläubigerschutz so bald als Datei an diesem Wochenende und dass es Anwaltskanzlei Kirkland & Ellis LLP angeheuert, um die Gesellschaft zu vertreten.
Ein Vertreter von Kirkland & Ellis konnte nicht sofort Stellung zu nehmen.
Die Lebensmittelkette seit mehreren Jahren mit schlechten Verkaufszahlen und schweren Schuldenlast zu kämpfen. Das Unternehmen wurde Berichten zufolge in Gesprächen mit Beratungsunternehmen im Oktober, wie man am besten mit seiner Schuldenlast.
A & P hat in neue Management gebracht, mehrere Geschäfte geschlossen, Arbeitsplätze abzubauen und kündigte im November, dass es wären sechs Pathmark Stores für $ 89.800.000 zu verkaufen. Das Unternehmen hat auch vorher, dass es in Gesprächen mit Banken und Kreditgebern über neue Umstrukturierung seiner Schulden soll. Doch das Unternehmen hat die Trendwende Anstrengungen in der Mitte der Wirtschaft nach unten, wenn Lebensmittelgeschäft Wettbewerb auf seiner steifste worden und es hat zu Ergebnissen führen konnte.
Das Unternehmen berichtete, dass sein Verlust im letzten Quartal verdoppelt und den Umsatz weiter rückläufig.
Aktien des Unternehmens fielen 1,89 $, fast 67 Prozent auf 94 Cent im Handel Vormittag. Aktien sind zwischen 86 Cent und $ 13 in den letzten 52 Wochen gehandelt.
Anhören
Umschrift
Wörterbuch - Detaillierten Wörterbucheintrag anzeigen
Hab mal ein paar gekauft für 1USD.
Könnte wie YRCW vor mehr als einem Jahr reagieren, dann werden Shortseller auf dem falschen Fuss erwischt.
Ansonsten konmjunkturresistente Branche! Hier könnte sich ene großartige Chance bieten, sofern die Restrukturierung erfolgreich verläuft, und durch weitere Verkäufe die Schuldenlast gedrückt wird, und letztendlich die alten Shares erhalten bleiben
Könnte wie YRCW vor mehr als einem Jahr reagieren, dann werden Shortseller auf dem falschen Fuss erwischt.
Ansonsten konmjunkturresistente Branche! Hier könnte sich ene großartige Chance bieten, sofern die Restrukturierung erfolgreich verläuft, und durch weitere Verkäufe die Schuldenlast gedrückt wird, und letztendlich die alten Shares erhalten bleiben
Trading Spotlight
Antwort auf Beitrag Nr.: 40.691.226 von MrRipley am 10.12.10 18:34:25genauso sehe ich auch, aber ich warte noch, aber 19000 wurde in Frankfurt eingekauft !
Die Wahrscheinlichkeit einer Insolvenzmeldung halte ich für sehr hoch, da andernfalls die Firma längst hätte reagieren bzw dementieren müssen.
Und wenn man sich Bilanz sowie GuV ansieht, ist eine Pleite ohnehin nur eine Frage der Zeit. Die letzten drei Jahre wurden auch operativ rote Zahlen geschrieben, und keine Trendwende in Sicht
Und wenn man sich Bilanz sowie GuV ansieht, ist eine Pleite ohnehin nur eine Frage der Zeit. Die letzten drei Jahre wurden auch operativ rote Zahlen geschrieben, und keine Trendwende in Sicht
Tradng Halt.
Insolvenzmeldung wahrscheinlicher als Dementi.
Falls keine kommt, könnte es Montag eine Überraschung geben.
Ich frage mich immer, warum solche Sachen durchsickern. Absicht oder Realität bzw gestreute Gerüchte?!
Darum immer nur Spielgeld setzen!
Ich habe die Erfahrung gemacht, dass eine Insolvenz 70% Kursverlust an einem Tag rechtfertigen. Somit ist auch hier wohl das meiste eingepreist.
20Mio Stücke Umsatz sind auch genug im Verhältniss zur Martkcap und den größten Shareholdern.
Meist geht solch eine Meldung vor oder nach Börseneröffnung durch und damit reisst ein Gap, welches charttechnisch Aussagekraft hat!
Das war hier nicht der Fall, was auch eher selten/seltsam ist.
Insolvenzmeldung wahrscheinlicher als Dementi.
Falls keine kommt, könnte es Montag eine Überraschung geben.
Ich frage mich immer, warum solche Sachen durchsickern. Absicht oder Realität bzw gestreute Gerüchte?!
Darum immer nur Spielgeld setzen!
Ich habe die Erfahrung gemacht, dass eine Insolvenz 70% Kursverlust an einem Tag rechtfertigen. Somit ist auch hier wohl das meiste eingepreist.
20Mio Stücke Umsatz sind auch genug im Verhältniss zur Martkcap und den größten Shareholdern.
Meist geht solch eine Meldung vor oder nach Börseneröffnung durch und damit reisst ein Gap, welches charttechnisch Aussagekraft hat!
Das war hier nicht der Fall, was auch eher selten/seltsam ist.
Antwort auf Beitrag Nr.: 40.691.996 von MrRipley am 10.12.10 20:16:40Subject to borrowing base requirements, the amended $655.0 million Credit Agreement provides for a term loan of $82.9 million, a term loan of $50.0 million and a revolving credit facility of $522.1 million enabling us to borrow funds and issue letters of credit on a revolving basis.
Wenn das wahr ist, dann wird sicherlich keine Chapter 11 beantragt!
Quelle:http://messages.finance.yahoo.com/mb/GAP
Wenn das wahr ist, dann wird sicherlich keine Chapter 11 beantragt!
Quelle:http://messages.finance.yahoo.com/mb/GAP
Antwort auf Beitrag Nr.: 40.693.480 von fisci am 11.12.10 10:20:33Es stimmt schon, das ist ein Zitat aus dem letzten Quartalsbericht. Du solltest Deine Informationen immer daher holen und nicht aus diesen Yahooboards.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?F…
Siehe dort unter Punkt 8, Unterpunkt "Credit Agreement". Du siehst dort aber auch, dass 133,8 plus 197,7 Millionen dieser Kreditlinie zum Stichtag 11.9. ausgenutzt waren. Seither haben -- so wirds jedenfalls kolportiert -- einige Lieferanten begonnen, Cashvorauszahlung statt Zahlungsziel zu verlangen. Du kannst Dir sicher vorstellen, dass dies bei einer Handelskette, die 8 Milliarden Dollar im Jahr umsetzt, eine deutliche Belastung der Liquidität mit sich bringt. Diese Belastung könnte bereits jetzt zu einer vollen Ausnutzung jener Kreditlinie geführt haben.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?F…
Siehe dort unter Punkt 8, Unterpunkt "Credit Agreement". Du siehst dort aber auch, dass 133,8 plus 197,7 Millionen dieser Kreditlinie zum Stichtag 11.9. ausgenutzt waren. Seither haben -- so wirds jedenfalls kolportiert -- einige Lieferanten begonnen, Cashvorauszahlung statt Zahlungsziel zu verlangen. Du kannst Dir sicher vorstellen, dass dies bei einer Handelskette, die 8 Milliarden Dollar im Jahr umsetzt, eine deutliche Belastung der Liquidität mit sich bringt. Diese Belastung könnte bereits jetzt zu einer vollen Ausnutzung jener Kreditlinie geführt haben.
..also finger weg ! Ich war am Freitag fast dabei gewesen kleine Pos. zu holen.
Zu Zeit ist es viel Riskant. Mal schauen wie das Ding entwickelt.
Zu Zeit ist es viel Riskant. Mal schauen wie das Ding entwickelt.
Dec 10 (Reuters) - Great Atlantic & Pacific Tea Co Inc (GAP.N), operator of A&P and other supermarkets, has hired restructuring lawyers and is facing a cash crunch after vendors have tightened credit terms in recent weeks, according to people with knowledge of the matter.
The company, once America's biggest grocer, has hired law firm Kirkland & Ellis for legal advice, said the sources, who asked not to be named because they were not authorized to speak to the media.
Shares of Great Atlantic & Pacific Tea, which operates about 400 grocery stores in the Eastern United States, fell 67 percent on Friday to 93 cents. The shares were halted in the early afternoon because of news pending.
A&P spokeswoman Lauren La Bruno did not return calls, and Kirkland & Ellis declined to comment.
Kirkland & Ellis is one of the top U.S. restructuring and bankruptcy law firms.
People familiar with the company's vendors said some vendors - including the companies that actually deliver the food to their stores - are now requiring cash on delivery, increasing the grocer's rate of cash burn. An attorney for one of the company's major vendors declined to comment. A large vendor, C&S Wholesale Grocers, also declined to comment.
The company, which was founded 151 years ago, operates chains like A&P, Waldbaum's, Super Fresh, The Food Emporium and Pathmark, but has been posting losses for most of the past decade. It had revenues of nearly $9 billion in the fiscal year ending February 2010 and has more than 40,000 employees, according to its website.
YUCAIPA, TENGELMANN STOCKHOLDERS
Its biggest stockholders are activist investor Ron Burkle and the German retail group Tengelmann. Burkle's Yucaipa investment firm has built up a large position in the company's debt recently, putting it in a stronger position to take control of the company if it enters bankruptcy as part of the restructuring, people familiar with the firm's activities said. [ID:nSGE6A10LO]
Around mid-September, A&P's net debt was $1.48 billion -- roughly eight times its market value. The company's property was worth $1.37 billion at book, but it is burning through $55 million to $65 million of cash every quarter.
"When your creditors begin to get nervous about your credit situation, they request cash on delivery and refuse to extend you any credit," said Scott Peltz, a restructuring expert at McGladrey's Financial Advisory Services Group in Chicago. "The liquidity crisis then becomes enhanced by the need to essentially fund their inventory with cash, seriously exacerbating the situation."
The company has sought help from advisors with more than $1 billion in debt maturing over the next two years, sources with direct knowledge of the situation said.
First up for the company is $165 million in convertible debt that comes due in June of 2011. Then the company has another convertible note of $255 million due as well as about $700 million in a variety of bank notes that mature.
Much of the debt dates to the company's 2007 purchase of Pathmark Stores. Bank of America (BAC.N) and the now bankrupt Lehman Brothers provided a nearly $1.4 billion financing package at that time. Yucaipa had been a shareholder in Pathmark and received a stake in A&P at that time. It also has two board seats.
http://www.reuters.com/article/idUSN1010658020101210?feedTyp…
The company, once America's biggest grocer, has hired law firm Kirkland & Ellis for legal advice, said the sources, who asked not to be named because they were not authorized to speak to the media.
Shares of Great Atlantic & Pacific Tea, which operates about 400 grocery stores in the Eastern United States, fell 67 percent on Friday to 93 cents. The shares were halted in the early afternoon because of news pending.
A&P spokeswoman Lauren La Bruno did not return calls, and Kirkland & Ellis declined to comment.
Kirkland & Ellis is one of the top U.S. restructuring and bankruptcy law firms.
People familiar with the company's vendors said some vendors - including the companies that actually deliver the food to their stores - are now requiring cash on delivery, increasing the grocer's rate of cash burn. An attorney for one of the company's major vendors declined to comment. A large vendor, C&S Wholesale Grocers, also declined to comment.
The company, which was founded 151 years ago, operates chains like A&P, Waldbaum's, Super Fresh, The Food Emporium and Pathmark, but has been posting losses for most of the past decade. It had revenues of nearly $9 billion in the fiscal year ending February 2010 and has more than 40,000 employees, according to its website.
YUCAIPA, TENGELMANN STOCKHOLDERS
Its biggest stockholders are activist investor Ron Burkle and the German retail group Tengelmann. Burkle's Yucaipa investment firm has built up a large position in the company's debt recently, putting it in a stronger position to take control of the company if it enters bankruptcy as part of the restructuring, people familiar with the firm's activities said. [ID:nSGE6A10LO]
Around mid-September, A&P's net debt was $1.48 billion -- roughly eight times its market value. The company's property was worth $1.37 billion at book, but it is burning through $55 million to $65 million of cash every quarter.
"When your creditors begin to get nervous about your credit situation, they request cash on delivery and refuse to extend you any credit," said Scott Peltz, a restructuring expert at McGladrey's Financial Advisory Services Group in Chicago. "The liquidity crisis then becomes enhanced by the need to essentially fund their inventory with cash, seriously exacerbating the situation."
The company has sought help from advisors with more than $1 billion in debt maturing over the next two years, sources with direct knowledge of the situation said.
First up for the company is $165 million in convertible debt that comes due in June of 2011. Then the company has another convertible note of $255 million due as well as about $700 million in a variety of bank notes that mature.
Much of the debt dates to the company's 2007 purchase of Pathmark Stores. Bank of America (BAC.N) and the now bankrupt Lehman Brothers provided a nearly $1.4 billion financing package at that time. Yucaipa had been a shareholder in Pathmark and received a stake in A&P at that time. It also has two board seats.
http://www.reuters.com/article/idUSN1010658020101210?feedTyp…
Antwort auf Beitrag Nr.: 40.694.357 von MFC500 am 11.12.10 15:59:28Hallo,
bis heute keine Meldung von der Firma!
Alles komisch !
Ist es nur Gerücht?oder steckt was dahinter !
bis heute keine Meldung von der Firma!
Alles komisch !
Ist es nur Gerücht?oder steckt was dahinter !
Antwort auf Beitrag Nr.: 40.696.959 von fisci am 12.12.10 19:06:57Irgendwas muss kommen, sonst waer sie nicht ausgesetzt worden...
Das wars:
Related News:Law .A&P, Grocery Store Owner, Files for Bankruptcy as Competition Heightens
By Tiffany Kary - Dec 13, 2010 7:23 AM GMT+0700
inShare.More
Business ExchangeBuzz up!DiggPrint Email . A shift in consumer spending toward competitors including wholesale clubs, supercenters and drugstores hurt sales in the quarter ended Sept. 11, the company said in a regulatory filing. Photographer: Chris Ware/Bloomberg
Great Atlantic & Pacific Tea Co., the 101-year-old operator of 395 supermarkets and other stores, filed for bankruptcy after failing to turn around its business amid increased competition from wholesale clubs and drugstores.
A&P, based in Montvale, New Jersey, listed both assets and debts of more than $1 billion in its Chapter 11 filing today in U.S. Bankruptcy Court in White Plains, New York. The company has 41,000 employees, 95 percent of whom are covered by union agreements, according to the filing.
“The debtors are one of the nation’s leading food and drug retailers,” lawyers for the company wrote. A&P asked court permission to combine the bankruptcies of 54 affiliates, citing more than 100,000 creditors and the need to save administration costs.
A shift in consumer spending toward competitors including wholesale clubs, supercenters and drugstores hurt sales in the quarter ended Sept. 11, the company said in a regulatory filing.
A&P sought permission in its first-day filings to pay employee wages and continue customer programs, such as refunds and price guarantees.
Risk Market Share
Without the ability to continue the customer programs, the company would “risk losing market share and raising unnecessary doubts about their operations,” lawyers for the company wrote.
Lauren LaBruno, a spokeswoman for A&P, didn’t immediately return a call for comment.
The retailer operates stores under six names: A&P, Waldbaum’s, The Food Emporium, Super Fresh, Pathmark and Food Basics. It had $8.8 billion in sales for the year ended in February, according to its website.
A&P announced a turnaround plan in July that included closing 25 stores in five states. In September, it said it would sell another seven stores in northern Connecticut. Restoring competitive margins, remodeling stores and increasing cash flows were all goals, the company said in press statements.
In October, the credit rating service Standard & Poor’s downgraded the company’s debt and said it doesn’t expect “material improvements in operating performance.”
Director Bobbie Gaunt resigned from its board Nov. 28, according to a Dec. 2 regulatory filing.
In July, A&P hired Sam Martin as its second new chief executive officer this year, replacing Ron Marshall, who had held the job since Feb. 8.
Net Loss
According to its most recent quarterly report, A&P had a net loss of $153.7 million for the 12 weeks ended Sept. 11. Its total assets were $2.53 billion and liabilities were $3.21 billion.
Meeting liquidity needs considering debt of $165 million was coming due June 15, 2011, was a reason for its initial move to restructure out of court, the company said in regulatory filings.
The company’s labor costs mean the company has less flexibility to invest in other parts of the store, Hertel said in an interview.
Kirkland & Ellis LLP represents A&P in the bankruptcy, according to the filing.
The case is: Re: Great Atlantic & Pacific Tea Co. 10-24549. U.S. Bankruptcy Court for the District of New York (White Plains).
Related News:Law .A&P, Grocery Store Owner, Files for Bankruptcy as Competition Heightens
By Tiffany Kary - Dec 13, 2010 7:23 AM GMT+0700
inShare.More
Business ExchangeBuzz up!DiggPrint Email . A shift in consumer spending toward competitors including wholesale clubs, supercenters and drugstores hurt sales in the quarter ended Sept. 11, the company said in a regulatory filing. Photographer: Chris Ware/Bloomberg
Great Atlantic & Pacific Tea Co., the 101-year-old operator of 395 supermarkets and other stores, filed for bankruptcy after failing to turn around its business amid increased competition from wholesale clubs and drugstores.
A&P, based in Montvale, New Jersey, listed both assets and debts of more than $1 billion in its Chapter 11 filing today in U.S. Bankruptcy Court in White Plains, New York. The company has 41,000 employees, 95 percent of whom are covered by union agreements, according to the filing.
“The debtors are one of the nation’s leading food and drug retailers,” lawyers for the company wrote. A&P asked court permission to combine the bankruptcies of 54 affiliates, citing more than 100,000 creditors and the need to save administration costs.
A shift in consumer spending toward competitors including wholesale clubs, supercenters and drugstores hurt sales in the quarter ended Sept. 11, the company said in a regulatory filing.
A&P sought permission in its first-day filings to pay employee wages and continue customer programs, such as refunds and price guarantees.
Risk Market Share
Without the ability to continue the customer programs, the company would “risk losing market share and raising unnecessary doubts about their operations,” lawyers for the company wrote.
Lauren LaBruno, a spokeswoman for A&P, didn’t immediately return a call for comment.
The retailer operates stores under six names: A&P, Waldbaum’s, The Food Emporium, Super Fresh, Pathmark and Food Basics. It had $8.8 billion in sales for the year ended in February, according to its website.
A&P announced a turnaround plan in July that included closing 25 stores in five states. In September, it said it would sell another seven stores in northern Connecticut. Restoring competitive margins, remodeling stores and increasing cash flows were all goals, the company said in press statements.
In October, the credit rating service Standard & Poor’s downgraded the company’s debt and said it doesn’t expect “material improvements in operating performance.”
Director Bobbie Gaunt resigned from its board Nov. 28, according to a Dec. 2 regulatory filing.
In July, A&P hired Sam Martin as its second new chief executive officer this year, replacing Ron Marshall, who had held the job since Feb. 8.
Net Loss
According to its most recent quarterly report, A&P had a net loss of $153.7 million for the 12 weeks ended Sept. 11. Its total assets were $2.53 billion and liabilities were $3.21 billion.
Meeting liquidity needs considering debt of $165 million was coming due June 15, 2011, was a reason for its initial move to restructure out of court, the company said in regulatory filings.
The company’s labor costs mean the company has less flexibility to invest in other parts of the store, Hertel said in an interview.
Kirkland & Ellis LLP represents A&P in the bankruptcy, according to the filing.
The case is: Re: Great Atlantic & Pacific Tea Co. 10-24549. U.S. Bankruptcy Court for the District of New York (White Plains).
UPDATE 2-Grocery chain A&P files for bankruptcy
Tweet ThisShare on LinkedIn Share on Facebook0diggsdiggRelated NewsUPDATE 1-Wal-Mart in talks with unions over NY stores-WSJ
5:56pm EST
UPDATE 2-A&P owner hires restructuring firm - sources
Fri, Dec 10 2010
A&P owner hires restructuring lawyers - sources
Fri, Dec 10 2010
Analysis: Slimmed-down grocer A&P needs to shed more weight
Wed, Dec 8 2010
UPDATE 4-Dollar General shares drop as sales slow
Mon, Dec 6 2010Related TopicsStocks »
Bonds News »
Bonds »
Global Markets »
Bankruptcy »
Stocks
THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC.
GAP.N
$0.93
-1.90-67.10%12:00am UTC+0700
JPMORGAN CHASE & CO.
JPM.N
$41.43
+0.62+1.52%12:00am UTC+0700
Wal-Mart Stores, Inc.
WMT.N
$54.28
-0.06-0.11%12:00am UTC+0700
Sun Dec 12, 2010 8:19pm EST
* Filed for bankruptcy with more than $1 bln in debt
* Once America's leading grocery (Adds details from company's statement)
NEW YORK, Dec 12 (Reuters) - Grocery store chain Great Atlantic & Pacific Tea Co (GAP.N) filed for bankruptcy on Sunday, drained of cash by tough competition and a sluggish economic recovery.
Once the largest U.S. grocer, the owner of about 400 stores under brands such as A&P, Waldbaum's and Super Fresh filed for Chapter 11 bankruptcy in New York with more than $1 billion in assets and more than $1 billion in debt, according to court documents.
As of Sept. 11, A&P had total debt of more than $3.2 billion, but it is unclear how much the company is currently carrying.
JP Morgan Chase & Co(JPM.N) will provide $800 million in debtor-in-possession financing, the company said. The U.S. Bankruptcy Court for the Southern District of New York will hold a hearing on Monday to approve a portion of the facility.
The Montvale, New Jersey-based company said its stores will remain fully stocked and open with no interruption of business. It has struggled since it acquired Pathmark Stores in 2007 with a $1.4 billion financing package.
A&P had nearly $9 billion in sales in its fiscal year to February 2010, but it has been bleeding cash at a rate of nearly $5 million a week.
The company reported having less than $100 million in cash and short-term investments on hand in September and it faces debt maturities in June.
BIG SHAREHOLDERS BACK THE MOVE
Its biggest stockholders are activist investor Ron Burkle and the German retail group Tengelmann. A&P said in a statement that its major shareholders support the action.
Burkle's Yucaipa investment firm has built up a large position in the company's debt recently, which could put it in a stronger position to control the bankruptcy, according to people familiar with the firm's activities. [ID:nSGE6A10LO]
The recession and slow economic recovery have claimed several supermarket chains. They have been squeezed on prices by discounters that have expanded into the food business such as Wal-Mart Stores Inc (WMT.N), while well-heeled customers have been lured away by high-end offerings of competitors such as Whole Foods Market Inc (WFMI.O).
Bruno's, Bi-Lo, Penn Traffic Co and Bashas' have all filed for bankruptcy over the past two years.
Trading in A&P's stock was halted on Friday in the early afternoon because of news pending. Before the halt, A&P's stock lost 67 percent in Friday's session to trade at 93 cents. It had traded as low as 86.97 cents during Friday's session. The stock peaked this year at $12.97 on Jan. 7, according to Reuters data.
The case is in Re: The Great Atlantic & Pacific Tea Company Inc,, U.S. Bankruptcy Court, Southern District of New York, No. 10-24549. (Reporting by Michael Erman and Caroline Humer, Writing by Tom Hals; Editing by Jan Paschal and Diane Craft)
Tweet ThisShare on LinkedIn Share on Facebook0diggsdiggRelated NewsUPDATE 1-Wal-Mart in talks with unions over NY stores-WSJ
5:56pm EST
UPDATE 2-A&P owner hires restructuring firm - sources
Fri, Dec 10 2010
A&P owner hires restructuring lawyers - sources
Fri, Dec 10 2010
Analysis: Slimmed-down grocer A&P needs to shed more weight
Wed, Dec 8 2010
UPDATE 4-Dollar General shares drop as sales slow
Mon, Dec 6 2010Related TopicsStocks »
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THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC.
GAP.N
$0.93
-1.90-67.10%12:00am UTC+0700
JPMORGAN CHASE & CO.
JPM.N
$41.43
+0.62+1.52%12:00am UTC+0700
Wal-Mart Stores, Inc.
WMT.N
$54.28
-0.06-0.11%12:00am UTC+0700
Sun Dec 12, 2010 8:19pm EST
* Filed for bankruptcy with more than $1 bln in debt
* Once America's leading grocery (Adds details from company's statement)
NEW YORK, Dec 12 (Reuters) - Grocery store chain Great Atlantic & Pacific Tea Co (GAP.N) filed for bankruptcy on Sunday, drained of cash by tough competition and a sluggish economic recovery.
Once the largest U.S. grocer, the owner of about 400 stores under brands such as A&P, Waldbaum's and Super Fresh filed for Chapter 11 bankruptcy in New York with more than $1 billion in assets and more than $1 billion in debt, according to court documents.
As of Sept. 11, A&P had total debt of more than $3.2 billion, but it is unclear how much the company is currently carrying.
JP Morgan Chase & Co(JPM.N) will provide $800 million in debtor-in-possession financing, the company said. The U.S. Bankruptcy Court for the Southern District of New York will hold a hearing on Monday to approve a portion of the facility.
The Montvale, New Jersey-based company said its stores will remain fully stocked and open with no interruption of business. It has struggled since it acquired Pathmark Stores in 2007 with a $1.4 billion financing package.
A&P had nearly $9 billion in sales in its fiscal year to February 2010, but it has been bleeding cash at a rate of nearly $5 million a week.
The company reported having less than $100 million in cash and short-term investments on hand in September and it faces debt maturities in June.
BIG SHAREHOLDERS BACK THE MOVE
Its biggest stockholders are activist investor Ron Burkle and the German retail group Tengelmann. A&P said in a statement that its major shareholders support the action.
Burkle's Yucaipa investment firm has built up a large position in the company's debt recently, which could put it in a stronger position to control the bankruptcy, according to people familiar with the firm's activities. [ID:nSGE6A10LO]
The recession and slow economic recovery have claimed several supermarket chains. They have been squeezed on prices by discounters that have expanded into the food business such as Wal-Mart Stores Inc (WMT.N), while well-heeled customers have been lured away by high-end offerings of competitors such as Whole Foods Market Inc (WFMI.O).
Bruno's, Bi-Lo, Penn Traffic Co and Bashas' have all filed for bankruptcy over the past two years.
Trading in A&P's stock was halted on Friday in the early afternoon because of news pending. Before the halt, A&P's stock lost 67 percent in Friday's session to trade at 93 cents. It had traded as low as 86.97 cents during Friday's session. The stock peaked this year at $12.97 on Jan. 7, according to Reuters data.
The case is in Re: The Great Atlantic & Pacific Tea Company Inc,, U.S. Bankruptcy Court, Southern District of New York, No. 10-24549. (Reporting by Michael Erman and Caroline Humer, Writing by Tom Hals; Editing by Jan Paschal and Diane Craft)
Antwort auf Beitrag Nr.: 40.697.674 von ooy am 13.12.10 02:58:011.Pos bei 0,1€
Antwort auf Beitrag Nr.: 40.698.498 von fisci am 13.12.10 10:19:381.Pos bei 0,1€
Glaube nicht dass es erstmal so tief geht. Bekanntheitsgrad von dem Laden ist zu groß. Es wird wieder mal viel gezockt werden hier, mit der Konsequenz, dass der Kurs gar nicht erst mal so weit fällt.
Glaube nicht dass es erstmal so tief geht. Bekanntheitsgrad von dem Laden ist zu groß. Es wird wieder mal viel gezockt werden hier, mit der Konsequenz, dass der Kurs gar nicht erst mal so weit fällt.
Antwort auf Beitrag Nr.: 40.698.498 von fisci am 13.12.10 10:19:38Lass lieber die Finger weg, bei der Verschuldung ist der Totalverlust garantiert...
Antwort auf Beitrag Nr.: 40.698.530 von Pfandbrief am 13.12.10 10:23:27Kurs ausgesetzt, oder nur kein Bid/ Ask?
Letzter Kurs 0,35€, 10:05h
Letzter Kurs 0,35€, 10:05h
Antwort auf Beitrag Nr.: 40.698.654 von Emsi am 13.12.10 10:39:38Weiss nicht. Würde nicht ernstnehmen was da in Deutschland passiert. Kaum wer dürfte in Deutschland diese Aktie haben, daher kanns auch keine vernünftigen Umsätze geben.
Das könnte sich aber ändern. Die Deutschen entdecken ja amerikanische Aktien immer erst nach der Insolvenz, wie wir aus anderen Beispielen gut wissen.
Das könnte sich aber ändern. Die Deutschen entdecken ja amerikanische Aktien immer erst nach der Insolvenz, wie wir aus anderen Beispielen gut wissen.
Gibts schon was vorboerslich?
Werden die gar nicht mehr gehandelt, kann keine Kurse finden??
sind noch ausgesetzt. Neues Kürzel wohl GAPTQ
Antwort auf Beitrag Nr.: 40.702.637 von MrRipley am 13.12.10 19:14:51Danke...
Antwort auf Beitrag Nr.: 40.702.637 von MrRipley am 13.12.10 19:14:51
Symbol Last Change (%) Bid Ask Low High Time Volume Links
GAPTQ 0.39 0.39 (0.00) 0 0 0.28 0.51 13:25 7,660,475
Symbol Last Change (%) Bid Ask Low High Time Volume Links
GAPTQ 0.39 0.39 (0.00) 0 0 0.28 0.51 13:25 7,660,475
Antwort auf Beitrag Nr.: 40.700.056 von ooy am 13.12.10 14:14:58In Frankfurt keine Handel mehr ??? Warum ???
Antwort auf Beitrag Nr.: 40.706.639 von ooy am 14.12.10 13:23:34Hast Du Quotes oder einen Chart?
Ich kann noch keine finden.
Ich kann noch keine finden.
Antwort auf Beitrag Nr.: 40.708.889 von MrRipley am 14.12.10 17:33:00Last Change (%) Day Volume
0.435 -0.033 (-7.05) 2,461,804
0.435 -0.033 (-7.05) 2,461,804
Antwort auf Beitrag Nr.: 40.708.981 von ooy am 14.12.10 17:41:32Kann mir mal jemand sagen warum die Aktie in D nicht mehr handelbar ist ??
ohhhh
Chapter 11 :-(
Chapter 11 :-(
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