PENN TRAFFIC CO., Syracuse, N.Y., said last week a hearing to convert an interim debtor-in-possession credit facility into a permanent loan has been postponed until next Monday. The hearing, set for March 24 in U.S. Bankruptcy Court in Delaware, was scheduled to approve an increase in the company's interim DIP loan of $240 million to a permanent loan of $300 million, a chain spokesman said. He said last week's adjournment without any action being taken was not unusual in bankruptcy ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess 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’sFREE, easy and quick. What are you waiting for!In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.