A&P gets exclusivity extension to take it through holiday season

By Lisa Kerner

Charlotte, N.C., Aug. 16 - The Great Atlantic & Pacific Tea Co., Inc.'s request for a second extension to its exclusive periods for filing and soliciting votes on a plan of reorganization was granted by the U.S. Bankruptcy Court for the Southern District of New York, according to an attorney familiar with the case.

The court extended the exclusive filing period to Jan. 16 from Aug. 31 and the solicitation period to March 16, 2012 from Oct. 31.

As previously reported in requesting the extension A&P said it is at a crucial stage in labor negotiations and is simultaneously moving forward with its other operational restructuring efforts, further refining its business plan and performing other preparatory analyses in an effort to best position it to exit from Chapter 11 as quickly as possible.

"The stability provided by extending the debtors' exclusive periods through the critical holiday season is crucial to giving the debtors the very best opportunity for a successful exit from Chapter 11," A&P said in its motion.

A&P, a Montvale, N.J.-based operator of supermarkets, filed for bankruptcy on Dec. 12, 2010. Its Chapter 11 case number is 10-24549.

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