A&P Seeks Funds to Buy Time

MONTVALE, N.J. As losses mount, sales slide and debt maturities approach, A&P's new leadership team is racing to secure additional funding. The struggling retailer last week was waiting for its banks to finalize a new term loan to provide some additional liquidity as heavy losses and declining EBITDA in the fiscal second quarter were draining its reserves. Sam Martin, who was named chief executive

MONTVALE, N.J. — As losses mount, sales slide and debt maturities approach, A&P's new leadership team is racing to secure additional funding.

The struggling retailer last week was waiting for its banks to finalize a new term loan to provide some additional liquidity as heavy losses and declining EBITDA in the fiscal second quarter were draining its reserves. Sam Martin, who was named chief executive officer in July, maintained, however, that the company was making progress

Register to view the full article

Already a member? .