WILMINGTON, DE -- Today is decision day for Penn Traffic, the parent company for P&C. A bankruptcy court in Delaware is expected to decide how the bankrupt company's assets, including P&C stores, will be disbursed.
The final agenda for this morning's key hearing on the Penn Traffic bankruptcy proceedings points to the resolution of many issues and the awarding of Penn Traffic's assets to Tops. Included on the agenda is a note that the Employees Stock Ownership Group does not intend to appear at the hearing to raise any objections to the sale.
You can read the complete agenda by clicking here.
Also, further negotiations with property owners and C&S Wholesalers are smoothing the way for an approval by bankruptcy court judge Peter Walsh during the 11:30 a.m. hearing in Delaware.
Customers we talked to Sunday say in some areas all they have is one grocery store, so they want to make sure it stays open.
