PATHMARK USING 30-DAY GRACE PERIOD TO PAY DEBT

CARTERET, N.J. -- Pathmark Stores here said last week it had elected to take advantage of a 30-day grace period provided for in the indentures for its $440 million of senior subordinated notes and $225 million deferred coupon notes. As a result, the chain said it did not pay the $22.1 million of interest on the former or the $12.1 million on the latter, both of which were due May 1.

CARTERET, N.J. -- Pathmark Stores here said last week it had elected to take advantage of a 30-day grace period provided for in the indentures for its $440 million of senior subordinated notes and $225 million deferred coupon notes. As a result, the chain said it did not pay the $22.1 million of interest on the former or the $12.1 million on the latter, both of which were due May 1.