WILLIAMSVILE, N.Y. — As expected, Tops Friendly Markets here Friday said it has filed a bid to acquire a majority of the assets of Penn Traffic Co., Syracuse, N.Y., out of bankruptcy.
In a filing with the bankruptcy court, Penn Traffic said the bid, in which Tops would purchase all 79 stores, includes $85 million in cash as well as reductions in unsecured claims that had been filed against Penn Traffic by United Food and Commercial Workers Local 1 and C&S Wholesale Grocers.
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