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Penn Traffic Co. said Friday it would close eight supermarkets by Feb. 7, eliminating almost 400 positions, according to published reports. Most of the stores are in central and northern New York state.
Officials at the financially strapped Syracuse, N.Y.-based company, which in recent years has filed for bankruptcy protection twice, said the closings were part of its continuing effort to boost long-term financial performance and reinvest in its core store portfolio.
One of the affected stores, located in Dunkirk, is a Quality Market, while the rest operate under the P&C Foods banner. One of the closing P&C Foods stores is in Colchester, Vt.
Late last year Penn Traffic completed the sale of its wholesale business to Keene, N.H.-based C&S Wholesale Grocers, which company president and c.e.o. Gregory J. Young hailed as a way to "rebuild the company, restore profitability, and position Penn Traffic for long-term success."