Five Waldbaum’s stores in Bayside, Fresh Meadows, Glen Oaks, Jackson Heights and Howard Beach are being purchased by the Key Food supermarket chain, it was announced.
The Staten Island-based Key Food Stores Co-Operative Inc. plans to complete the transaction with Waldbaum’s parent company, the bankrupt Great Atlantic & Pacific Tea Company (A&P), this November, according to a Key Food spokesperson. The five Waldbaum’s locations are among 23 A&P-owned markets in New York and New Jersey that Key Food will acquire.
The fate of these locations had been in doubt since July, when A&P announced it was filing for bankruptcy after incurring $300 million in losses the previous year. The national chain— which operated under brands including PathMark, Waldbaum’s, A&P, Food Basics and Food Emporium — sold 25 tri-state area locations to Stop & Shop, including six Queens markets.
Once the sale is completed, Key Food will have 212 stores in the northeast U.S. under its helm, adding a projected $400 million in annual retail sales.
The five Waldbaum’s stores in Queens that Key Food is acquiring are located at 35-10 Francis Lewis Blvd. in Bayside; 196-35 Horace Harding Expwy. in Fresh Meadows; 259-01 Union Tpke. in Glen Oaks; 75-55 31st Ave. in Jackson Heights; and 83-25 153rd Ave. in the Lindenwood section of Howard Beach.
Key Food operates supermarkets under its own brand and also owns the Food Universe and Food Dynasty chains.
The Key Food spokesperson told The Courier it is not yet known as to what brands would be used to replace the acquired Waldbaum’s locations.
“Key Food is proud to add the A&P stores to our supermarket family and to continue to serve the communities where these stores are located,” said Key Food CEO Dean Janeway. “The customers of these stores deserve a high-quality neighborhood grocery store and we are thrilled to play that role.”
All of the new Key Food locations are expected to open in the spring of 2016.
