Struggles Intensify for A&P

MONTVALE, N.J. A&P's latest turnaround effort careened sharply off course when the retailer abruptly replaced its newly installed chief executive officer and reported further deterioration of sales and a heavier quarterly loss, sparking concerns among analysts and debt-rating agencies. The first-quarter financial results, which one analyst said shocked even the greatest of skeptics, led to speculation

MONTVALE, N.J. — A&P's latest turnaround effort careened sharply off course when the retailer abruptly replaced its newly installed chief executive officer and reported further deterioration of sales and a heavier quarterly loss, sparking concerns among analysts and debt-rating agencies.

The first-quarter financial results, which one analyst said “shocked even the greatest of skeptics,” led to speculation about A&P's future liquidity. Rating agencies Standard & Poor

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