Penn Files Bankruptcy Yet Again

Penn Traffic Co. filed for Chapter 11 bankruptcy protection last week, just four years after emerging from a previous bankruptcy filing and 10 years after its first trip to bankruptcy court in 1999. This time the company, based here, said it would seek a buyer for its assets, although some were skeptical that the company could be sold as a whole entity and would instead be broken up

SYRACUSE, N.Y. — Penn Traffic Co. filed for Chapter 11 bankruptcy protection last week, just four years after emerging from a previous bankruptcy filing and 10 years after its first trip to bankruptcy court in 1999.

This time the company, based here, said it would seek a buyer for its assets, although some were skeptical that the company could be sold as a whole entity and would instead be broken up into smaller parts.

Penn Traffic has already whittled down its store ba

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