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A recap of the state of Friday’s hearing in bankruptcy court and why the Tops and Price Chopper offers are both under active consideration. It is a messy case! Q. What happened, briefly? A. Penn Traffic set aside its plans to liquidate. At 2 a.m. Friday, Buffalo-based Tops Markets filed with the court its bid of $85 million, [...] United Food and Commercial Workers Union Local 1 Frank DeRiso said Tops’ bid will exceed the two bids made by Price Chopper and an unamed bidder being represented by a group of liquidation specialists. “This is clearly the best benefit for all the workers at Penn Traffic, including the warehouse,” DeRiso said. Earlier, Tops Markets reportedly made a [...] Unnamed sources say that Buffalo-based Tops Markets has offered $90 million to buy Penn Traffic, the owner of P&C and two other small grocery chains. The offer reportedly includes all 79 Penn Traffic grocery stores and other assets. Report: Tops Markets offers $90 million to buy all of P&C grocery stores’ parent company | News from The [...] Schenectady-based Price Chopper fired off a major bid in a growing retail war to buy nearly one-third of the Syracuse-based parent of P&C Foods, soliciting to purchase 22 P&C supermarkets — many in the Syracuse and Central New York market — for $54 million. via Price Chopper makes major bid on 22 stores of Penn Traffic, the [...] A Cazenovia-based developer wants to build a shopping complex on Route 92 in the town of Manlius, just east of the Eastern Hills Bible Church. The area is currently zoned residential but the developer is pressing the town board to review an eight-year old study of traffic and growth and consider a zoning change. See this [...] |
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