Montvale-based Great Atlantic and Pacific Tea Co. (A&P) said Tuesday that it plans to sell its 16 Food Emporium stores in Manhattan.
Company spokeswoman Marcy Connor confirmed in a statement that the supermarket company began shopping around for a buyer for the New York City Food Emporium stores this month. The one remaining Food Emporium in Connecticut will not be sold.
The decision represents the first major move by A&P since it emerged from bankruptcy in March. The company, which operates 320 stores under the A&P, Pathmark, Waldbaum's, Food Emporium and Food Basics names, has shed close to 80 stores since filing for bankruptcy protection in December 2010.
Other grocery chains, including Fairway, Trader Joe's and Whole Foods Market, reportedly have been expressing interest in Food Emporium's Manhattan real estate for several years.
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