SYRACUSE, N.Y. -- Penn Traffic Co. here intends to use the Chapter 11 process to become a stronger operation with a better-defined niche, the company said after filing its second Chapter 11 reorganization petition in four years. Penn Traffic filed for bankruptcy protection 10 days ago after securing the financing it needed -- an initial debtor-in-possession loan of $70 million, with expectations the U.S. Bankruptcy Court will approve a permanent $270 million DIP facility within 45 ...
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