There's more reason to wonder now. Yesterday , the CEO quit very suddenly.
The company didn't say why Chapman decided to retire. Chapman could not be reached for comment.Not a good sign, especially when combined with the collection of bad news packed in this paragraph:
Penn Traffic's biggest investors, the private equity firms that invested in the company, are firing salvos. The company has not released any financial statements since it reorganized in 2005. Its reasons include ongoing internal and external audits and investigations by the Justice Department and the Securities and Exchange Commission over promotional allowance practices.