UPDATE 1-A&P to sell six Pathmark properties for $89.8 mln

* To lease back the properties

* Deal with Winstanley Enterprises & its affiliates

Nov 9 (Reuters) - Troubled grocery chain Great Atlantic & Pacific Tea Co Inc GAP.N has agreed to sell six of its retail locations to Winstanley Enterprises LLC and some of its affiliates for $89.8 million.

The company, which operates about 395 stores, will sell the Pathmark properties in New York, New Jersey, Pennsylvania and Delaware and lease them back.

Great Atlantic, also known as A&P, has been posting losses for more than two years, hobbled by higher operating and pension-related costs and falling revenues.

The company has been shutting stores to boost liquidity.

Shares of the company, which have gained 16 percent since late October when it said it was in talks to raise funds, closed at $3.83 Tuesday on the New York Stock Exchange. (Reporting by Mihir Dalal in Bangalore; Editing by Prem Udayabhanu)