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GlobeSt.com UPDATE: A&P to Divest Farmer Jack, More Stores To Close

DETROIT-The Great Atlantic & Pacific Tea Co. announces it will strip itself of nearly half its 650 grocery stores, including its Farmer Jack and Food Basics operations based in Detroit.

By Dan Heaton | Updated on May 10, 2005

For more retail coverage, click GlobeSt.com/RETAIL.

DETROIT-A dozen or more Farmer Jack stores could soon be for sale or close in southeast Michigan and northern Ohio. The Great Atlantic & Pacific Tea Co. said Tuesday it would divest itself of nearly half its 650 grocery stores, including its Farmer Jack and Food Basics operations based in Detroit.

Farmer Jack President Mike Carter said in a statement that his existing 88-store chain would eventually emerge as a separate chain with about 70 stores. Earlier this spring, Farmer Jack announced it was closing nine of its 10 Food Basics stores in the Detroit area and two Farmer Jack stores. The announcement by A&P Tuesday as part of its quarterly earnings statement was more far-reaching than expected.

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