A&P files for bankruptcy

MONTVALE, N.J. —Grocer A&P, formally Great Atlantic & Pacific Tea Co., has filed for bankruptcy protection for the second time in five years, according to Reuters. After 156 years in business, the company has been under increasing pressure from discount food stores like Walmart as well as upmarket banners like Whole Foods. After filing for bankruptcy in 2010, A&P started up again in 2012 on the strength of investments by Goldman Sachs, among others. In a statement, the company said it would be selling some 120 stores as well as closing 25 underperforming outlets.