file photo by Boyd Loving
SEPTEMBER 21, 2015, 1:11 PM LAST UPDATED: TUESDAY, SEPTEMBER 22, 2015, 7:10 AM
BY JOAN VERDON
STAFF WRITER |
THE RECORD
Workers at 11 A&P-owned stores in North Jersey, and thousands more at 84 other stores, breathed a collective sigh of relief Monday after learning that those stores had been sold to the Acme and Stop & Shop chains for $370 million.
The deals, approved Monday by U.S. Bankruptcy Judge Robert Drain in White Plains, N.Y., preserve the jobs of 10,750 union employees, including 4,000 workers represented by United Food & Commercial Workers Local 464a in Little Falls.
Acme and Stop & Shop have been negotiating with the unions representing the workers and are close to reaching an agreement, a union official said. A cornerstone of the deals with Acme and Stop & Shop is that current union jobs will be preserved, the official said.
A&P is selling its stores to pay off creditors in its bankruptcy case. But the company, Drain and the unions have argued that job preservation should be considered, along with sale price.
https://www.northjersey.com/news/judge-oks-sale-of-a-p-owned-stores-to-acme-stop-shop-including-11-in-north-jersey-1.1414836
