A&P Paid Out $9.4 Million To Eight Executives In Year Leading Up To Bankruptcy

The now-bankrupt grocery store chain, Great Atlantic & Pacific Tea Co., or A&P, is in hot water after it was determined that the grocery store chain paid $9.4 million to eight directors and other top managers in the year leading up to the bankruptcy.  While no recipients of the bonuses have been named publicly, the courts have the right to go through a company’s past year before the bankruptcy and look at the compensation and bonuses that were paid out during that time to executives, board members, etc.  Meanwhile, A&P slashed 90% of union contracts for its 28,500 employees, who feel they were misled by A&P managers. A&P Stores filed for bankruptcy on July 19^th.

Court documents reveal the...

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