July 9, 2010
Updated Jan 8, 2010 at 8:36 PM EDT
WILLIAMSVILLE, NY (WKBW) -- Tops Friendly Markets, a leading grocery retailer in Western New York and Northwestern Pennsylvania, has announced that its bid to acquire a majority of Penn Traffic's assets has been accepted.
The bid has been recommended to the U.S. Bankruptcy Court for approval, and would allow Tops to acquire a majority of Penn Traffic's assets, including its 79 supermarket locations.
The deal, if approved, would preserve almost all Penn Traffic stores and save nearly 6000 jobs and shopping options in rural communities across the state.
Officials expect the bid to be approved later today by a federal bankruptcy judge.
