MILESTONE AT PATHMARK

Pathmark Stores took action last week to clean up its balance sheet under a plan it will later make official through the filing of a prepackaged Chapter 11 bankruptcy. At the end of the process, Pathmark -- long hobbled by debt -- will be in a position to move once again. But in what direction?You'll see further details of the plan in the news article on the front page, but the short version is that

Pathmark Stores took action last week to clean up its balance sheet under a plan it will later make official through the filing of a prepackaged Chapter 11 bankruptcy. At the end of the process, Pathmark -- long hobbled by debt -- will be in a position to move once again. But in what direction?

You'll see further details of the plan in the news article on the front page, but the short version is that Pathmark's bond indebtedness would be reduced from about $960 million to about $590 m

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