Tops Gets Approval To Close ‘Underperforming’ Stores
Tops Market was granted approval by the court to close stores that the company describes as 'underperforming'.
The struggling grocery chain filed for bankruptcy protection in February, and needed to seek the court's approval to close any of their stores. 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 permission was granted this week.
Tops has not identified which stores would subject to closure.
The grocery store chain operates 169 stores in the Northeastern United States, and employs more than 14,000 people.