Waldbaum operates about 65 supermarkets in New York City, on Long Island, and in Westchester County, New York. To serve the city that never sleeps, many Waldbaum stores are open around the clock and most have in-store bakeries; about half have pharmacies. The 100-year-old chain is owned by ailing A&P, which filed for bankruptcy in 2010 capping years of struggle following the purchase of its regional rival Pathmark Stores in 2007. As a result of the Pathmark purchase, four Waldbaum supermarkets on Long Island and Staten Island were sold to rivals King Kullen and Stop & Shop in 2008 to satisfy Federal Trade Commission competition requirements.
A&P says it will keep all of its grocery stores open for business and fully stocked while it reorganizes. The reorganization is being led by CEO Sam Martin, who joined A&P from OfficeMax in July 2010. Martin, the company's third chief executive in just nine months, has experience in the grocery business as a former COO of Wild Oats Markets. He succeeded Ron Marshall, who came to A&P from bookseller Borders in February. In his short tenure with the company, Marshall launched a "Lower Price Project" (LPP) and recruited the morning talk show host Kelly Ripa to promote it. The LPP rolled out 10,000 lower everyday prices at Waldbaum and its sister chains A&P and Super Fresh stores.