The parent company the P&C grocery stores is filing for bankruptcy for the third time - only this time, the stores are for sale.

The Penn Traffic Company operates stores in Watertown, West Carthage, Lowville, Pulaski, Gouverneur, Canton, Ogdensburg, Potsdam and Massena.
 
Approximately 6,000 employees have been given notice that if the stores aren't sold, they will likely close no later than February 15. 

"Over the past few weeks, Penn Traffic has experienced a combination of declining sales, loss of market share, tight credit markets, upcoming expiration of its current credit arrangements, and liquidity-restricting actions by its lenders that make the company's future uncertain," Penn Traffic stated in a letter from P&C to community leaders.

There are indications there could be a buyer, but who and what stores would be bought are questions with no answers right now. 

Shoppers at the Watertown store say they hope the stores don't close.

"That's a sad thing. P&C has been around a lot of years in this area," said customer Larry Keech.

The company is asking the Bankruptcy Court for permission to sell its 78 stores in four states or it will be forced to close them by mid-February.

There were unconfirmed reports that Price Chopper would be buying at least some of the stores.

When 7 News contacted Price Chopper, Barbara Page, a public relations official with Price Chopper, responded in a written statement, "No comment at this time. We are aware that Penn Traffic (P&C) has filed, but will not comment on rumor or speculation."

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