A&P Announces Settlement With Canadian Franchisees.MONTVALE Montvale may mean:
Food Basics is a no-frills Canadian supermarket chain created by A&P Canada to compete with the successful No Frills warehouse style supermarket operated by Loblaw. discount grocery operations in Ontario Ontario, city, United States Ontario, city (1990 pop. 133,179), San Bernardino co., S Calif., near Los Angeles, in a region of vineyards; inc. 1891. , Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of . The settlement is subject to court approval. Approximately half of the $32 million (U.S. pre-tax) settlement represents the Company's purchase of stores from franchisees participating in the action, which involved a dispute over certain terms contained in the previous franchise agreement. Christian Haub, Chairman of the Board, President and Chief Executive Officer of A&P, said "The resolution of this matter enables us to continue growing our strong discount business in Ontario with a larger complement of corporately-owned stores, while at the same time strengthening our continuing franchise stores." |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion