Report: Price Chopper may acquire Penn Traffic stores

NEW YORK The Penn Traffic Co. may have found a buyer for some of its stores, according to published reports.

Price Chopper, based in Schenectady, N.Y., is bidding $54 million for 22 of Penn Traffic’s P&C Foods stores, in upstate New York, Pennsylvania, Vermont and New Hampshire.

After defaulting on its debts, Syracuse, N.Y.-based Penn Traffic announced in November that it would file for Chapter 11 bankruptcy protection and sell off its assets, including all of its 79 stores, which operate under P&C, Bi-Lo Foods and Quality Markets banners.