A&P Delays Filing 10-K Again
Dow Jones’ Newswire service reports that the Great Atlantic & Pacific Tea Co.. is further delaying the filing of its annual report because of an internal investigation into the grocery store operator’s accounting practices.
This is the second announced filing delay for A&P’s parent company. Last month, the retailer delayed filing its 10-K to review whether it had appropriately accounted for recognizing vendor allowances. It was initially expected that Great Atlantic & Pacific Tea would have completed its internal review by June 8, 2002.
Moderator Comment: What’s up at A&P?
The cover story in the June issue of Grocery Headquarters
is on A&P’s revival. Let’s hope that piece is correct and that the company’s
internal review of accounting practices is simply the company looking to tighten
up its financial reporting.