PENN TRAFFIC SALES DROP DURING REORGANIZATION

SYRACUSE, N.Y. -- Penn Traffic Co. here said last week that sales declined and its net loss increased in the first quarter ended May 1 as the company attempted to work out the details of a Chapter 11 bankruptcy reorganization.to $615 million for the 13-week quarter, while same store sales decreased 4.5% The net loss for the quarter rose to $23.1 million. However, excluding $3.7 million in income from

SYRACUSE, N.Y. -- Penn Traffic Co. here said last week that sales declined and its net loss increased in the first quarter ended May 1 as the company attempted to work out the details of a Chapter 11 bankruptcy reorganization.

to $615 million for the 13-week quarter, while same store sales decreased 4.5% The net loss for the quarter rose to $23.1 million. However, excluding $3.7 million in income from the sale of assets in connection with the reorganization and $8.4 million in reorgan

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