In the article below, Supermarket News reports on a landlord’s objection to the sale of and by its tenant, Superfresh, to Mrs. Green’s Natural Market. The landlord, Apex Management, says its lease with Superfresh states that successor tenants must demonstrate a financial condition similar to the original tenant at the time the original lease is signed. According to Apex, the financial condition of Mrs. Green’s and it’s parent company, Planet Organic, are not even close to being similar to Superfresh’s (A&P’s) financial condition in 1962, when the supermarket had the 2011 equivalent of $37 billion in annual sales.
Stay tuned…