A&P Halted; Company Expected To File Chapter 11 (GAP)

Shares of The Great Atlantic & Pacific Tea Company GAP have been halted after a 67% plunge on Friday. The company is expected to file Chapter 11 bankruptcy. ZeroHedge is reporting that the company needs to refinance roughly USD 391m of notes that mature in 2011 and 2012, including USD 159m of 5.125% convertible notes due 2011.