SYRACUSE, N.Y. -- Penn Traffic Co. here said last week it has reached an agreement in principle on a financial restructuring that it expects to implement through a prenegotiated Chapter 11. ion of senior and subordinated notes and replacing them with new common stock, notes and warrants. The company did not indicate a time frame for filing Chapter 11, noting that the agreement in principle is subject to several conditions, including definitive documentation and consummation of a Chapter 11 ...
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