SYRACUSE, N.Y. -- Penn Traffic Co. here last week said it would not make a scheduled $8.6 million interest payment, leaving it to bondholders to decide the next move. The company, which is in the process of negotiating a consensual, prearranged restructuring, actually owed the payment in mid-December, but took advantage of a 15-day grace period which expired Dec. 30. In mid-December Penn Traffic said it intended to make the payment by that deadline. Bondholders could choose to request that ...
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