The Great Atlantic & Pacific Tea Co. has tapped Weil, Gotshal & Manges to handle its second bankruptcy case in five years.
Bankruptcy filings show that Weil restructuring partner Ray Schrock is leading a team of lawyers working on the matter for Montvale, New Jersey-based A&P, which listed $1.6 billion in assets against liabilities of $2.3 billion in its Chapter 11 filing Sunday in White Plains, New York, as part of a plan to close 25 of its 296 stores. A&P plans to sell another 120 stores for $600 million to grocery rivals including Acme Markets Inc., Key Food Stores Co-operative Inc. and The Stop & Shop Supermarket Co.
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