Pantry buys back $16.1 million of convertibles in fiscal third quarter

By Devika Patel

Knoxville, Tenn., Aug. 3 - The Pantry, Inc. repurchased $16.1 million of its convertible notes during the fiscal third quarter ended June 24 for $14.9 million, according to a company earnings report.

The repurchase resulted in a loss of $786,000, or $0.02 per diluted share, including the write-off of the unamortized debt discount and deferred loan costs of $2 million.

Pantry is a Sanford, N.C.-based convenience store chain.

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