Bankrupt Tops wants to close underperforming stores

Posted at 11:10 AM, Apr 20, 2018
and last updated 2018-04-20 15:47:51-04

Tops wants to close some underperforming stores as it looks to battle back from Chapter 11 bankruptcy, according to court documents obtained by 7 Eyewitness News.

A company spokesperson said no decisions have been made about potential store closings, adding there will be no further comment while the situation is in court proceedings.

Tops filed for bankruptcy in February. Tops Markets LLC received a commitment for a $125 million debtor-in-possession term loan and a $140 million asset based revolving loan.

The company operates 174 stores in Upstate New York, Northern Pennsylvania and Vermont and employs more than 14,000 people.




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