Is Tops Markets Closing Its CNY Grocery Stores?
In a new court filing, Tops says its looking to close several of its grocery stores. Could stores in Central New York be among them?
Tops Markets filed for Chapter 11 bankruptcy in February 2018, in an effort to reorganize and restructure and save the struggling business. As part of that process, Tops is looking to close several grocery stores that it deems "unprofitable."
According to the Rochester Democrat and Chronicle, Tops Markets filed documents with the bankruptcy court asking for permission to "to close any stores that they determine, in their business judgment, should be closed in order to preserve liquidity and maximize the value of their respective estates." That motion was filed on April 18, and will be heard on May 10. Tops Markets has not disclosed which stores it would seek to close.
The grocery store chain operates 169 stores in the Northeastern United States, and employs more than 14,000 people.