CLARIFICATION: A GlobeSt.com story published earlier unintentionally misstated a Morningstar equity analysts' comments on Penn Traffic's transaction.
Ian Ritter is national online editor for GlobeSt.com/RETAIL.
SYRACUSE, NY-Penn Traffic is postponing a court hearing scheduled for today on its Chapter 11 reorganization plan because of "multiple compelling proposals" for a sale-leaseback transaction. the deal involves its grocery store chains, which include BiLo Foods, P&C Foods and Quality Markets, as well as some of its distribution properties. Locally based Penn Traffic did not reveal what companies are interested, nore did they unveil a timeframe.
A Penn Traffic spokesman says the stores "are very strong market performers that are very competitive and doing well." Of its units, the company owns 21 and leases space for the remaining supermarkets.
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