US regional supermarket operator Penn Traffic could sell one or more of its supermarket divisions as it reorganises under bankruptcy protection, a company executive has said.
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“The debtor is exploring all options available to it,” William D. Murphy, Penn Traffic’s chief restructuring officer, was quoted by the Associated Press as saying.
Penn Traffic, which owns and operates 212 supermarkets in six states, filed for Chapter 11 bankruptcy protection in May, suffering the effects of strong competition, stagnant food prices, the weak economy and rising employee benefit costs.
Murphy said it was too early to say what option the company would take, adding that the company has not set any time frame.
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