Syracuse, NY — The Price Chopper supermarket chain is suing Syracuse-based The Penn Traffic Co. for $1.6 million for breach-of-contract and other legal issues relating to Price Choppers failed bid to pay $54 million to buy 22 P&C Foods supermarkets in bankruptcy court. The lawsuit was filed as a complaint today in U.S. Bankruptcy Court in Wilmington, Del., where Penn Traffics Chapter 11 bankruptcy case is under review.
Price Choppers complaint comes one day after Buffalo-based Tops Markets bid of $85 million for Penn Traffics 79 supermarkets and other assets was approved by Judge Peter J. Walsh. Tops is supposed to close on the sale on Thursday or Friday.
Tops thwarted Price Choppers effort to buy the 22 P&C Foods stores, including 13 in Central New York, with its offer submitted at 2 a.m. Jan. 8, hours before Price Chopper appeared to be the front-runner to snatch a swath of Penn Traffics holdings.
To read the rest of the story, please go to: The Post-Standard