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====P&C Foods====
P&C Foods began in 1944 as the Producers and Consumers food cooperative in [[Ithaca, New York]], as a way for farmers in [[Upstate New York]] to get their products to market efficiently. Until 2010, Penn Traffic operated 70 P&C supermarkets serving the [[Syracuse metropolitan area]] and other communities in Upstate New York, [[Vermont]], [[New Hampshire]], and [[Pennsylvania]]. P&C was also a major wholesaler in upstate New York; from its Syracuse warehouse, the company served 99 independent supermarkets in central New York, the majority of which still operate under the Big M franchise trade name.<ref>[https://www.bigmsupermarkets.com Big M Supermarkets]</ref>
In 1997, a new ballpark for the [[Syracuse Chiefs]] opened. Penn Traffic owned the naming rights for nine baseball seasons of [[NBT Bank Stadium|P & C Stadium]]. The last P&C Foods branded grocery store closed on January 21, 2012 in [[Bath, New York]], when the building was sold to Moran Foods, owner of [[Save-A-Lot]], by order of the [[Federal Trade Commission|FTC]].<ref>{{cite news |url=http://www.the-leader.com/x123110939/Save-A-Lot-owner-buys-Bath-P-C |title=Save-A-Lot owner buys Bath P&C |newspaper=[[Corning Leader]] |date=January 10, 2012 |first=Mary |last=Perham |access-date=August 10, 2014 |archive-date=August 12, 2014 |archive-url=https://web.archive.org/web/20140812203519/http://www.the-leader.com/x123110939/Save-A-Lot-owner-buys-Bath-P-C |url-status=dead }}</ref> The P&C name survives today in [[Cortland, New York|Cortland]] and Ithaca under new owners.<ref>[https://www.pandcfresh.com P&C Fresh]</ref>
====Big Bear====
When the first Big Bear store opened in 1933, it marked the beginning of self-service supermarket operations in the [[Midwestern United States|Midwest]]. Big Bear was the first supermarket in the country to use cashier-operated motorized [[conveyor belts]] and the first to use an [[IBM]] [[mainframe computer]]. In the 1980s, its Big Bear Plus stores combined a supermarket with a general merchandise store. Penn Traffic operated 70 Big Bear and Big Bear Plus stores in [[Ohio]] and [[West Virginia]] until early 2004. As a result of Penn Traffic's 2003 [[bankruptcy]] filing, these stores were either closed or sold to other companies, such as grocery retailer [[Giant Eagle]], while other properties were left vacant and still remain vacant. The [[Columbus, Ohio]] warehouses operated by Big Bear were also left vacant and subsequently torn down for redevelopment.
In the early and middle 1990s, Penn Traffic continued to grow as it acquired and built other supermarkets in and near its primary markets. During this time, Penn Traffic entered the [[Buffalo, New York]] and [[Erie, Pennsylvania]] markets with the Quality trade name and made substantial investments to enhance its store base and distribution network, while maintaining steady growth in cash flow and profitability.
In 1997, Hirsch hired Phil Hawkins, who was credited with saving the [[Vons]] supermarket chain in [[California]]. Hawkins
Meanwhile, better
▲Meanwhile, better-capitalized competitors like [[Wegmans]] Food Markets and [[Kroger]] cut into market share. Same-store sales fell 8.2% in fiscal 1998, while operating income declined another 6%, to $165 million (${{Format price|{{Inflation|index=US-GDP|value=165000000|start_year=1998}}}} in {{Inflation/year|US-GDP}}). In Columbus, where Kroger and Big Bear had once been neck and neck, Big Bear's market share dropped to 20% from 25%, while Kroger's rose to 54% from 44% in 1998, according to a survey by ''[[The Columbus Dispatch]]''. Hawkins resigned before the first bankruptcy filing, March 1, 1999.<ref name=forbes />
In the late 1990s, Penn Traffic experienced a significant reduction in its profitability because of several merchandising and operational changes that had a negative impact on its business. By late 1998, the company realized that while it had strong consumer franchises, it was working under an untenable debt burden. To address this challenge, in early 1999 Penn Traffic negotiated an agreement with bondholders to restructure more than $1.1 billion in bond debt.
In 1998, Penn Traffic sold its
Penn Traffic completed its financial restructuring in June 1999 with more than 75% of its debt retired.
In 2003, the company filed for bankruptcy again, this time resulting in the loss of Big Bear, one of their largest grocery chains
In 2007, two former Penn Traffic executives were indicted on fraud charges.
In early 2008, Penn Traffic closed its private bakery, Penny Curtiss
In December 2008
On November 18, 2009, Penn Traffic filed for [[Chapter 11, Title 11, United States Code|Chapter 11 bankruptcy protection]] following second-quarter 2009 losses of $7 million, the highest loss ever for the company, missed loan payments, and slower shipments from suppliers. The company initially intended to sell all of its assets by the end of 2009 and close on the deal or deals by the early January 2010.
As of January 9, 2010, Penn Traffic was entertaining three separate bids: $54 million from [[Price Chopper
==Sale to Tops Markets==
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On January 25, 2010, [[Tops Markets]]' bid was signed off by a federal judge in U.S. Bankruptcy Court and was awarded the sale of all 79 Penn Traffic stores. Closing occurred on Jan 29, 2010. The amount of the sale will be slightly more than the previously agreed upon price of $85 million cash and assumption of approximately $70 million of Penn Traffic's debt.<ref>{{cite web |url=http://www.syracuse.com/news/index.ssf/2010/01/judge_approves_sale_of_penn_tr.html |title=Bankruptcy judge approves sale of Penn Traffic to Tops |newspaper=[[Syracuse Post-Standard]] |date=January 26, 2010 |first=Bob |last=Niedt}}</ref><br>
The BiLo name survives in [[Pennsylvania]], though three former locations have since converted to Tops. The P&C name (P&C Fresh) was relaunched by three ex-PT executives in [[Cortland, New York]], [[Ithaca, New York]], and [[Sayre, Pennsylvania]]; the Sayre, Pennsylvania store has since sold to Tops.<ref>{{cite web |url=http://www.syracuse.com/news/index.ssf/2011/05/pc_name_may_appear_again_on_th.html |title=P&C Fresh name may appear again on three supermarkets -- but none are in Syracuse |newspaper=[[Syracuse Post-Standard]] |date=May 10, 2011 |first=Bob |last=Niedt}}</ref>▼
▲The P&C name (P&C Fresh) was relaunched by three ex-PT executives in [[Cortland, New York]], [[Ithaca, New York]], and [[Sayre, Pennsylvania]]; the Sayre, Pennsylvania store has since sold to Tops.<ref>{{cite web |url=http://www.syracuse.com/news/index.ssf/2011/05/pc_name_may_appear_again_on_th.html |title=P&C Fresh name may appear again on three supermarkets -- but none are in Syracuse |newspaper=[[Syracuse Post-Standard]] |date=May 10, 2011 |first=Bob |last=Niedt}}</ref>
==See also==
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==External links==
*[https://www.bloomberg.com/profile/company/PTFCQ:US Penn Traffic] at [[Bloomberg L.P.]]
* [http://www.bizjournals.com/columbus/stories/1997/06/09/story3.html "CEO of Big Bear parent firm meets the troops"], ''Columbus Business Journal'', June 9, 1997
* [http://nyretailroundup.blogspot.com/2010/03/former-p-locations.html "Former P&C locations"], NY Retail Roundup, March 10, 2010
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[[Category:Defunct companies based in Syracuse, New York]]
[[Category:Defunct supermarkets of the United States]]
[[Category:Hess's]]
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