OCEAN CITY — (July 31, 2015) Ocean City may have hit peak supermarket intrigue - which may not be much, but it’s something compared to how much press grocery stores usually get.
The mostly defunct Ocean Plaza Mall on 94th Street and its anchor store, Superfresh, are almost guaranteed a major shakeup in the coming months as Superfresh’s parent company, A&P, proceeds with its bankruptcy case and sale of stores to ACME Markets.
At the same time, the underused mall’s owner, Continental Realty, is looking at a renewed push toward redevelopment of the site, which was previously blocked by Superfresh’s iron-clad lease of the facility.
Last week, the 156-year old Great Atlantic and Pacific Tea Company, better known as A&P, filed for Chapter 11 bankruptcy protection, meaning that it will be going through a court-supervised restructuring in order to alleviate the company’s mounting debt.
As part of the move, A&P will be closing 25 supermarkets and selling off another 120, according to industry reports.