SYRACUSE, N.Y. -- Penn Traffic Co. here said last week it has begun investing $100 million in an 18-month capital program that will encompass upgrades at all Big Bear Plus stores, renovations of other formats and construction of new stores.
d three conventional Big Bear units in Charleston, W. Va., and Kingsdale and Columbus, Ohio.
Hirsch said other major capital projects are scheduled for P&C Foods in upstate New York, Quality Foods in western New York and northwest Pennsylvania, and Bi-Lo in western and central Pennsylvania.
Penn Traffic also said its stock began trading last week on the Nasdaq stock market. After being delisted by the New York Stock Exchange last December, Penn Traffic stock had been listed on the Nasdaq OTC bulletin board.
The company also released financial results last week for the second quarter and first half ended July 31. Those results combine eight weeks of operation prior to June 26 -- before the company reorganized and emerged from bankruptcy -- and five weeks of operation after that date. Because it implemented fresh-start reporting and made substantial reductions in debt, Penn Traffic said the results are not comparable to the prior-year periods.
