One of America’s oldest grocery companies is considering drastic measures to cut costs by filing for bankruptcy.
According to sources close to the situation, this would be A&P‘s second bankruptcy filing in the last five years.
This comes soon after the 156-year-old American company announced it is looking for new buyers and was reviewing a revamp of its strategic policies and procedures.
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Some experts say this may be because of the change in shopping trends in the U.S. Back in A&P’s good days, consumers were shopping for all their groceries at one store. Now, they’re looking for other options such as Whole Foods or Trader Joe’s and others to fulfil their shopping needs.
Other chains are able to provide wider selections of organic products and private labels than before.
Currently A&P’s options for salvation include raising capital from investors, forging new business partnerships and selling assets of the company.
