Tops Markets is offering to buy all 79 of Penn Traffic's 79 stores, including all P&C supermarkets in the North Country, reports The Buffalo News.
However, Tops officials said they are baffled because Penn Traffic has yet to approve the bid for submission to U.S. bankruptcy court, the paper said.
The Tops bid is the most inclusive at the highest price so far, topping Price Chopper's $54 million bid for 22 stores, excluding P&Cs in Watertown, Lowville and Ogdensburg.
Another bid is from a group of four companies offering $36.5 million for all of Penn Traffic's assets, according to the newspaper.
Interested bidders face a Monday deadline to submit their offers to federal court. An auction of Penn Traffic's stores and assets is set for December 29th.
The Tops offer is good news for patrons and workers at the P&Cs left out of Price Chopper's bid. Without a buyer, it's assumed the stores would close.