The famous grocer A&P filed for Chapter 11 bankruptcy for the second time in five years on Monday.
Its parent company, The Great Atlantic & Pacific Tea Company Inc., plans to sell and close all stores to save jobs and pay back debt.
"A&P has lined up bidders for 120 of its 296 stores with total expected proceeds of about $600 million," according to The Wall Street Journal.
At one point, A&P was one of the top grocery stores in the US.
Industry analysts believe the grocer's...