Troubled grocer A&P (GAP) filed for bankruptcy yesterday, unable to handle both its heavy...

|By:, SA News Editor

Troubled grocer A&P (GAP) filed for bankruptcy yesterday, unable to handle both its heavy debt load and growing competition from low-price rivals like Wal-Mart (WMT) and Shoprite (SRHGY.PK). The company doesn't have a prearranged restructuring deal in place with creditors.