November 08, 2018 12:24 PM
A bankruptcy court on Thursday approved Tops Markets' reorganization plan to emerge from Chapter 11.
“We are pleased to receive the Court’s approval of our Plan and are poised to emerge from this process an even stronger and more competitive company,” said Frank Curci, Chief Executive Officer of Tops. “Through this process, we have accomplished several key objectives, including significantly reducing our debt, creating a viable cost structure and efficiently optimizing our store portfolio. Importantly, we provided an opportunity for employment to every associate who was interested and impacted by store closings at other nearby stores. Our restructuring will create an even more exceptional shopping experience for our customers and assure that we will continue to serve our communities like no one else can.”
Tops Markets filed for bankruptcy in February. Since then, the grocery chain closed five Rochester-area locations, including stores in Geneva, Lyons and Fairport. The chain also closed its North Winton Road and Lake Avenue stores in Rochester.
Updated: November 08, 2018 12:24 PM
Created: November 08, 2018 12:20 PM
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