Staff and Wire Reports
The Associated Press reported
Monday that Penn Traffic Co. will
have another six weeks to find a
potential buyer for its 79 supermarkets,
including P&C; grocery stores in
Hartwick Seminary and Norwich.
GE Capital, the supermarket
chain’s largest lender, agreed Sunday
to extend its deadline for bids
until the end of January. The company
had previously set Monday as
the deadline for bids.
Penn Traffic, based in Syracuse,
filed for bankruptcy in November.
Its P&C;, Quality Markets and BiLo
stores employ nearly 6,000 people
in New York, New Hampshire,
Pennsylvania and Vermont, according
to the AP.
Last week, U.S. Sen. Charles
Schumer, D-N.Y., urged GE Capital
to extend its deadline to keep stores
open and workers employed.
“This welcome decision by GE
Capital to extend the deadline for
bids means thousands of New York
workers can breathe a little easier
through the Christmas season as
Penn Traffic identifies a buyer
that will keep open the maximum
number of stores. This is very good
news for both workers at these
stores and for upstate consumers,
who deserve good choices and food
shopping options,” Schumer said in
a media release.
Last week, the AP reported that
Price Chopper placed a $54 million
bid for 22 of the 46 P&C; stores _ 19
of which are in New York state. According
to the release from Schumer’s
office, other bids have been
submitted for the stores.
