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Tops Markets emerges from Chapter 11 bankruptcy

Posted: 12:40 PM, Nov 19, 2018
Updated: 2018-11-19 17:40:09Z

Tops Markets has completed its financial restructuring process and emerged from Chapter 11 bankruptcy.

The Williamsville-based supermarket says it has reduced its debt load by $445 million and resolved labor and pension issues that weighed the company down when it filed for bankruptcy in February.

"We thank our customers for their continued support, our Tops' associates who provide our customers with exceptional service every day, and our vendors and partners for their ongoing support as we look forward to continuing to serve our communities for years to come," said Frank Curci, Tops CEO.

Curci says the company is moving forward with new services, including 'Tops Grocery Pick Up,' which allows shoppers to place grocery orders online and select a pick-up time at the store of their choice.

Tops announced in August it was closing 10 underperforming stores as part of the restructuring process. None of the locations were in Western New York. The company said it found jobs at other stores for all 600 associates affected by the closures.

The downsizing leaves Tops with 159 locations in Upstate New York, Northern Pennsylvania and Vermont. 

 

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