The corporate parent of the A&P, Pathmark, Waldbaum’s and Food Emporium grocery chains — the country’s biggest company 50 years ago — is set to file for chapter 11 as soon as this week, the New York Post reported today. The Great Atlantic & Pacific Tea Co.’s filing is expected to come in the form of a pre-packaged bankruptcy, which could divvy up the company’s best locations. A&P has already hired Evercore Partners, an investment bank that specializes in selling assets. After years of brutal competition with Walmart, A&P was further hobbled by its 2007 acquisition of Pathmark, a deal engineered by billionaire Ron Burkle, which left A&P saddled with debt.
