CARTERET, N.J. -- Pathmark Stores here said last week it had elected to take advantage of a 30-day grace period provided for in the indentures for its $440 million of senior subordinated notes and $225 million deferred coupon notes. As a result, the chain said it did not pay the $22.1 million of interest on the former or the $12.1 million on the latter, both of which were due May 1.

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