A&P Parent Sells Sav-A-Center Stores
Montvale, N.J., The Great Atlantic & Pacific Tea Co. said Monday it agreed to sell 21 Sav-A-Center stores.
Nineteen New Orleans-area Sav-A-Center stores will be sold to Rouse’s Supermarket, based in Thibadoux, La. Two other Sav-A-Center units will be sold to other buyers, including an independent food retailer.
Financial terms were undisclosed.
The move allows A&P to concentrate retail operations in the Northeast. The company is in the process of buying rival Pathmark Stores Inc. William Blair & Co. LLC was financial advisor to A&P.
Most Sav-A-Center staffers will be offered jobs by the new owners, the company said. Transfer of ownership will take about six weeks.
L.L. Bean Opens First Store in New York
Freeport, Maine, L.L. Bean will stay open 24 hours a day, throughout the weekend of its grand opening at Colonie Center in Albany, N.Y. on Sept. 14.
The 24-hour schedule, which ends after the opening weekend, is being done in the spirit of the L.L. Bean store in Freeport, Maine, according to the company. It will offer in-store lessons on how to snowshoe, fly fish, kayak and do other sports.
L.L. Bean is one of a number of stores locating in the mall, which is in the midst of a $70 million renovation. A Cheesecake Factory restaurant opened last August, and PF Chang’s China Bistro is set to open on Oct. 8. Foot Locker is set to open in September, as is Lids, which sells hats.
The new 30,000-sq.-ft. store at Colonie Center was built to a national energy-efficiency standard set by the United States Green Building Council, according to L.L. Bean.