PENN TRAFFIC TO RESTATE RESULTS

SYRACUSE, N.Y. -- Penn Traffic here last week became the latest in a series of food retailing companies that have recently found accounting errors causing them to restate their financial results.The company said it would restate its earnings reports for the past three years and the first quarter of this year after a former manager in its Penny Curtiss bakery manufacturing subsidiary allegedly admitted

SYRACUSE, N.Y. -- Penn Traffic here last week became the latest in a series of food retailing companies that have recently found accounting errors causing them to restate their financial results.

The company said it would restate its earnings reports for the past three years and the first quarter of this year after a former manager in its Penny Curtiss bakery manufacturing subsidiary allegedly admitted to overstating the inventory in the division, resulting in an overstatement of prof

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