Ocean Avenue Waldbaum’s, Coyle Street Food Basics Sold At A&P Bankruptcy Auction

Two neighborhood grocers have been auctioned off as part of the A&P bankruptcy case.

Last week, the Food Basics at 2185 Coyle Street was sold to the supermarket chain Met Foods, according to a list leaked by the union representing A&P workers. Meanwhile, the list shows that the Waldbaum’s at 3100 Ocean Avenue went to Food Partners, an investment bank that specializes in providing financial services to the food industry, according to Business Wire.

The website Coupons in the News reports that Food Partners is representing Compare Foods in the acquisition of the Ocean Avenue location.

A spokesperson for Compare Foods said the company would not be able to comment on the sale until the deals are finalized by the court on October 16. Met Foods could not be reached for comment, and A&P did not respond to an inquiry on the sales.

The stores were among 36 A&P-owned locations auctioned off last Thursday and Friday as part of the dying company’s ongoing bankruptcy case.

The bids still have to be approved by the bankruptcy court and could be challenged by A&P’s creditors or the employee unions. UFCW Local 338, which represents workers at the Ocean Avenue Waldbaum’s and Coyle Street Food Basics, vowed to engage with grocery companies that purchased A&P stores in order to guarantee their employees receive protections and continue working at those locations.

Several other local grocers have already been sold off since A&P filed for bankruptcy in July. The Pathmark on Cropsey Avenue was sold to Stop & Shop as part of a $146 million transfer of 25 A&P locations. Key Food agreed to buy two nearby Waldbaum’s — one at 8121 New Utrecht Avenue and the other at 2424 Flatbush Avenue, according to A&P’s website.