Grocery store operator A&P is filing for Chapter 11 bankruptcy as it continues to face increasingly tougher competition.

This marks the second time in five years that the Montvale, New Jersey-based company has filed for bankruptcy. This time around, it said it has more than 100,000 creditors along with more than $1 billion in liabilities and over $1 billion in assets.

The grocery chain has faced tougher competition from companies like Wal-Mart Stores Inc. and Target Corp., both of which are expanding their grocery options.