The grocery retailer employs over 14,000 people in Upstate New York, Northern Pennsylvania, and Vermont.
Tops Friendly Markets is on track to emerge from bankruptcy, according to the company Tops Markets, LLC. A restructuring plan confirmed by U.S. Bankruptcy Court for the Southern District of New York means Tops “expects to complete its restructuring and emerge from Chapter 11 shortly,” according to a release.
Tops Markets, headquartered in Williamsville, New York, operates 159 full-service supermarkets with five additional by franchisees under the Tops Markets banner. Tops grocery retailer employs over 14,000 people in Upstate New York, Northern Pennsylvania, and Vermont.
“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,” stated Frank Curci, Tops chief executive officer. “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.”
“On behalf of everyone at Tops, I want to thank all Tops associates, who have continued to provide customers with convenient, friendly and high-quality service. I also want to thank our loyal customers, suppliers and other stakeholders for their continued support throughout this process,” Curci added.
Tops’ has information about its restructuring at www.topsrestructuring.com. Or call Tops’ Restructuring Hotline at (888) 764-7358. More at www.topsmarkets.com