By Tom Hals, Supriya Kurane and Yashaswini Swamynathan Storied supermarket chain Great Atlantic & Pacific Tea Co., better known as A&P, has filed for bankruptcy protection for the second time in five years and put hundreds of its stores up for sale, bringing to an end the 156-year-old company. A&P, which also owns Best Cellars, Pathmark and Superfresh stores, has been squeezed by discounters such as Walmart Stores (WMT) and up-market grocery chains such as Whole Foods Market (WFM). The company operates in six Northeastern U.S. states.
A&P agreed to sell about 120 of its 296 stores for about $600 million to Acme Markets, owner of Safeway and Albertsons grocery stores, Stop & Shop Supermarket Co. and Key Food Stores Co-operative. However, the proposed buyers weren't willing to take on A&P's collective bargaining agreements or pension obligations, according to court documents. About 93 percent of A&P's 28,500 workers are unionized,…