A&P has asked the court overseeing its bankruptcy case to approve the sale of The Food Emporium banner, trademarks, domain names, e-commerce business and mobile application for $1.75 million, and will take the bid to auction should a higher offer arrive.
The Food Emporium assets were not included in a separate, ongoing auction of A&P’s intellectual property assets now being sought by consultant Hilco Streambank.
Key Food, with 225 stores located primarily in New York’s outer boroughs, last month was a surprise winner in bidding for four Food Emporium locations in Manhattan: sites at 3rd Avenue and 68th Street; Union Square; 8th Avenue and 50th Street; and 10th Avenue and 42nd Street.
The proposed agreement includes a license allowing Key Food to use the Food Emporium banner and signage in stores through the end of the year.
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