The Great Atlantic & Pacific Tea Company Defunct!
Yep another American Icon down the drain! Wally World is next!
serf
https://en.wikipedia.org/wiki/The_Great_Atlantic_&_Pacific_Tea_Company
Walmart gained a dominant position in the grocery industry, forcing many chains to downsize. In 2000, A&P was down to near 600 stores; two years later it declared its largest loss!
A&P has told the bankruptcy court that it intends to complete going-out-of-business sales and close every unsold store no later than Nov. 25, the day before Thanksgiving.
serf
https://en.wikipedia.org/wiki/The_Great_Atlantic_&_Pacific_Tea_Company
Walmart gained a dominant position in the grocery industry, forcing many chains to downsize. In 2000, A&P was down to near 600 stores; two years later it declared its largest loss!
A&P has told the bankruptcy court that it intends to complete going-out-of-business sales and close every unsold store no later than Nov. 25, the day before Thanksgiving.
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There is no guarantee that management won't make bad decisions, or negotiate a bad contract.
"A&P's labor costs were higher than those of most competitors. Because A&P stopped growing, a growing percentage of its workers was making better wages due to their seniority. This was not a problem for most of A&P's competitors because they were rapidly expanding and had relatively fewer workers with high seniority. To offset higher labor costs, A&P tried to operate stores with fewer employees, resulting in long lines at checkouts and empty shelves"
"In recent years, its supermarkets were limited to Connecticut, Delaware, Maryland, New Jersey, New York, and Pennsylvania;"
Could a contributor be that these are ALL closed shop (union) states?0
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