Price Chopper Offers $54 Million for 22 Penn Traffic Stores

Price Chopper Supermarkets, Schenectady, N.Y., is offering $54 million in cash to acquire 22 of Penn Traffic's locations, according to a filing in bankruptcy court yesterday.

SYRACUSE, N.Y. — Price Chopper Supermarkets, Schenectady, N.Y., is offering $54 million in cash to acquire 22 of Penn Traffic's locations, according to a filing in bankruptcy court yesterday.

Penn Traffic, based here, said it was seeking court approval to conduct the transaction as a private sale rather than subject the stores to an auction. Conducting the transaction as a private sale is a condition of Price Chopper's offer, according to the filing.

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