Penn Traffic Names Two Directors to Board

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Penn Traffic Names Two Directors to Board

06/12/2007
SYRACUSE, N.Y. -- The Penn Traffic Co. said last week that it has appointed Kurt Cellar and Scott Sozio, both of Bay Harbour Management, L.C., to its board of directors, effective immediately. Bay Harbour Management affiliates currently hold about 23 percent of the retailer's common stock.

Cellar is a partner and portfolio Manager of Bay Harbour Management, and currently manages the firm's public investments, in addition to the investment team. Sozio serves as an investment analyst of the firm, in which capacity he identifies fixed-income and selected distressed-equity investment opportunities for broad range of industries.

Penn Traffic operates 106 supermarkets in Pennsylvania, upstate New York, Vermont, and New Hampshire under the BiLo, P&C and Quality banners. The company also operates a wholesale food distribution business serving about 120 independent operators and Penny Curtiss, a Syracuse-based commercial bakery.