WILLIAMSVILE, N.Y. — As expected, Tops Friendly Markets here said it has filed a bid to acquire a majority of the assets of Penn Traffic Co., Syracuse, N.Y., out of bankruptcy, although rival bidder Price Chopper voiced strong objections to the proposed sale in a court hearing.
In a filing with the bankruptcy court, Penn Traffic said Tops' bid included $85 million in cash; reductions in unsecured claims that had been filed against Penn Traffic by United Food and Commercial Workers Local 1 ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
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 a complimentary copy of SN's salary survey sent to you by email.
Click here to read the FAQ page if you have any questions (opens in a new window)
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.