Acme, Stop & Shop buying A&P stores

WHITE PLAINS, N.Y. (AP) — Officials say a bankruptcy court judge in White Plains approved the sale of 95 A&P stores to Acme Markets and Stop & Shop Supermarket for $370 million. Monday's sale netted the financially-strapped supermarket chain about $36 million less than they had initially sought in the sales to their former competitors.

A&P aggressively moved to sell as many of their stores as possible after filing for Chapter 11 bankruptcy in July for the second time in five years.

Officials say Acme had initially expressed interest in purchasing 46 stores but only bought 41.

The Journal News reports Acme likely passed on additional stores after being unable to come to terms with the sites' landlords.

Ownership of the 95 locations will officially transfer before the end of November.

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