SYRACUSE, N.Y. — Penn Traffic here on Wednesday said it entered into a forbearance agreement with its lenders after committing what it termed as a "technical default" on its loans. The retailer also engaged a crisis management firm, Conway Del Genio Gries & Co., and installed a representative of that firm, Ronald F. Stengel, as its chief restructuring officer effective immediately. Under the forbearance agreement, lenders led by GE Capital have agreed not to proceed with remedies ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive complimentary access to the SN salary survey data tables.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.