Penn Traffic to Begin Shutting Stores, Laying Off Workers
In a layoff notice filed with the New York State Labor Department, the Penn Traffic Co. said it would close 53 P&C and Quality Markets locations and warehouses in the central and western part of the state, a move that will terminate 4,132 employees, according to a published report. The closures are expected to take place by Feb. 15.
The Syracuse, N.Y.-based grocer recently filed for Chapter 11 bankruptcy for the third time in a decade. CEO Gregory Young said at the time of the filing that the company would sell off its stores and other assets, but that locations would stay open while a buyer was sought. Although Penn Traffic also has stores in Pennsylvania, Vermont and New Hampshire, it was not yet known whether those stores would close, the AP reported.
Labor Department spokeswoman Karen Williamson told the AP that businesses are able to cancel or amend a layoff notice in response to a change in circumstances.
The Syracuse, N.Y.-based grocer recently filed for Chapter 11 bankruptcy for the third time in a decade. CEO Gregory Young said at the time of the filing that the company would sell off its stores and other assets, but that locations would stay open while a buyer was sought. Although Penn Traffic also has stores in Pennsylvania, Vermont and New Hampshire, it was not yet known whether those stores would close, the AP reported.
Labor Department spokeswoman Karen Williamson told the AP that businesses are able to cancel or amend a layoff notice in response to a change in circumstances.