NORWICH – Due to the efforts of Sen. Charles E. Schumer, Norwich residents and employees of P&C have a little breathing room concerning the announced closing of the downtown grocery.
Penn Traffic, which owns several chains of stores including P&C supermarkets, has agreed to drop its push for a low-ball liquidation bid, which would have shuttered stores and tossed workers out. Earlier this week, Penn Traffic and GE Capital, its main creditor, received a letter from Schumer strongly opposing the liquidation bid and urging all parties to adhere to a Jan. 22 deadline for the submission of bids that would save the most jobs, according to a press release from the senator’s office.
In addition, bids on the stores have already been reported, possibly saving most, if not all of the stores.
“Tops Markets is very interested in acquiring Penn Traffic’s assets, including its 79 locations,” stated Katie McKenna, communications and public relations for the Williamsville-based Tops chain. “We cannot speculate about or comment on any outcome at this point.”