Ever since Penn Traffic, the parent company of Quality Markets, declared bankruptcy for the third time last month and announced it would be selling its grocery stores and other assets, an uneasiness over what will happen to the markets it operates has accompanied the situation.

The uneasiness even got the attention of U.S. Sen. Charles Schumer, D-N.Y., who has been involved in the proceedings.

On Monday, Schumer announced that his request was met by GE Capital, Penn Traffic's creditor, to extend its deadline for bids to sell as many of the company's grocery stores as possible. Previously, the deadline to submit bids had been Monday. However, late Sunday night GE Capital confirmed that the deadline to submit bids would be extended to Jan. 20 or 21 with the goal of having a deal wrapped up by Jan. 31.

Schumer announced that GE Capital has agreed to pursue a schedule for bids that corresponds to Schumer's request to keep Penn Traffic open and operating through the end of January.

Schumer said he called the chief executive officer at GE Capital last week to request flexibility on credit terms to allow the extra time so the company can sell as many stores as possible to bidders that would keep them operating.

"This welcome decision by GE Capital to extend the deadline for bids means thousands of New York workers can breathe a little easier through the Christmas season as Penn Traffic identifies a buyer that will keep open the maximum number of stores,'' Schumer said. ''This is very good news for both workers at these stores and for upstate consumers, who deserve good choices and food shopping options. It means more time to find a bidder that will keep more stores open, potentially saving thousands of jobs.''

Schumer said previous to this new deadline there were indications that GE Capital was considering liquidating the stores, which would likely have led to 6,000 layoffs right around Christmas. Bids have emerged for Penn Traffic owned stores across New York, and this will give the company more time to work out the details of those bids to ensure the maximum number of stores are kept open.

It has been reported that bids to purchase Penn Traffic assets have been filed by Price Chopper and Tops Markets. Price Chopper has offered $50 million for 22 of Penn Traffic's stores and Tops Markets has offered $90 million for all 76.

Penn Traffic operates supermarkets in Upstate New York, Pennsylvania, Vermont and New Hampshire under the P&C Foods, Bi-Lo Foods and Quality Markets names. The company operates 13 Quality Markets in Western New York - Attica, Dunkirk, Ellicottville, Falconer, Frewsburg, Jamestown, Lakewood, Lockport, Mayville, Randolph, Silver Creek, Westfield and Amherst.