Great Atlantic & Pacific Tea Co. has tapped Gordon Brothers Retail Partners LLC as its liquidation consultant for the grocer’s going-out-of-business sales, which received preliminary approval to go forward earlier this week, the Wall Street Journal reported today. In a Wednesday filing with U.S. Bankruptcy Court in White Plains, N.Y., A&P said it tapped Gordon Brothers to conduct the final sales of groceries, as well as the fixtures, furniture and supplies, at the 25 stores it plans to initially close. The agreement also covers additional stores A&P decides to close. A&P will pay Gordon Brothers a small fee if the grocery sales equal more than A&P initially paid for the products sold. For the fixtures and furniture, Gordon Brothers will get 10 percent of all gross sales. In the filing, A&P estimated expenses related to the sales at the first 25 closing stores at $800,000.
