PENN TRAFFIC TO CLOSE 16 STORES

SYRACUSE, N.Y. -- Penn Traffic Co. here said it will seek permission from the U.S. Bankruptcy Court in White Plains, N.Y., to close 16 supermarkets.Steven Panagos, Penn Traffic's interim chief executive officer, said, "These 16 stores were unprofitable or among our least profitable stores, and our analysis indicated that there was little or no potential for them to become more profitable in the future."The

SYRACUSE, N.Y. -- Penn Traffic Co. here said it will seek permission from the U.S. Bankruptcy Court in White Plains, N.Y., to close 16 supermarkets.

Steven Panagos, Penn Traffic's interim chief executive officer, said, "These 16 stores were unprofitable or among our least profitable stores, and our analysis indicated that there was little or no potential for them to become more profitable in the future."

The stores to be closed include 10 Big Bear units in Ohio and West Virgin

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