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Penn Traffic Sale Approval Sought

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Penn Traffic filed a motion with the U.S. Bankruptcy Court seeking approval of the sale of substantially all of the Company’s assets. A joint venture comprised of Hilco Merchant Resources and Hilco Real Estate Holdings will act as the stalking horse bidder in the proceedings for an agreed price of $19,750,000. This purchase agreement does not include the 22 Debtor stores covered under a previous purchase agreement with Hilco Merchant Resources.

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