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Bay Harbour increases stake in Penn Traffic with $10.1 million purchase of shares
By Lisa Kerner
Charlotte, N.C., Feb. 16 - Bay Harbour Management, LC increased its stake in The Penn Traffic Co. with the purchase of 607,236 shares of common stock in one transaction in the OTC market at a price of $16.75 per share, or approximately $10.1 million, on Feb. 14.
Bay Harbour, along with its affiliate, Trophy Hunter Investments, Ltd owns 1,912,992 shares, or 23.1%, of Penn Traffic common stock, according to a schedule 13D filing with the Securities and Exchange Commission.
Penn Traffic is a Syracuse, N.Y.-based company involved in retail and wholesale food distribution.
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