Business Pathmark tries to return to low-cost roots Published: Jun. 12, 2008, 10:03 a.m.

Under the terms of the agreement, Yucaipa will purchase 20 million newly issued shares of Pathmark common stock, 10.06 million Series A warrants, and 15.05 million Series B warrants.

Pathmark workers represented by a Clifton-based local voted Monday night to approve a contract that the supermarket’s parent company, A&P, said it needed to emerge from bankruptcy.

Burkle also would get warrants to buy 10 million shares at $8.50 each, and a final 15 million of 10-year warrants at $15 each. Pathmark’s board also plans to give Yucaipa five of 11 board seats.

Bankrupt food giant A&P, which bought the Pathmark chain in 2007, is closing 32 “unprofitable” stores in six states — including the 10-year-old supermarket, according to its Feb. 15 bankruptcy filing.

A new ShopRite in Fair Lawn opened its doors to the public last Friday at the site of the old Pathmark store, which closed before the pandemic. Named ShopRite of Maple & Hemlock and located at 22 ...