Tops Friendly Markets to close its underperforming stores

Photo of Tops Friendly Market in Rome courtesy of Google Street View

A bankruptcy judge has given Tops Friendly Markets permission to close its underperforming stores.

Posted: May. 16, 2018 12:17 PM
Updated: May. 16, 2018 3:17 PM

A bankruptcy judge has given Tops Friendly Markets permission to close its underperforming stores.

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The U.S. Bankruptcy Court in the Southern District of New York approved the request by Tops to close its underperforming stores and to hold closing sales before shutting them down.

In an April court filing, Tops said the vast majority of its 169 stores in New York, Pennsylvania and Vermont are profitable, but a few have “consistently underperformed.”

On May 10, the motion outlining the procedures was approved by the court, but as of now there is no timeline for when those closures will occur.

According to Syracuse.com, Tops reportedly has more than $720 million in debt.

Locally, there are Tops stores in Boonville, Camden, Rome, Cooperstown, Canastota, Chittenango and Lowville.

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