FINANCIAL WATCH

PENN TRAFFIC CO., Syracuse, N.Y., said last week a hearing to convert an interim debtor-in-possession credit facility into a permanent loan has been postponed until next Monday. The hearing, set for March 24 in U.S. Bankruptcy Court in Delaware, was scheduled to approve an increase in the company's interim DIP loan of $240 million to a permanent loan of $300 million, a chain spokesman said. He said

PENN TRAFFIC CO., Syracuse, N.Y., said last week a hearing to convert an interim debtor-in-possession credit facility into a permanent loan has been postponed until next Monday. The hearing, set for March 24 in U.S. Bankruptcy Court in Delaware, was scheduled to approve an increase in the company's interim DIP loan of $240 million to a permanent loan of $300 million, a chain spokesman said. He said last week's adjournment without any action being taken was not unusual in bankruptcy proceeding

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