A bankruptcy judge has given Tops Friendly Markets permission to close its underperforming stores.
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.
- Tops Friendly Markets to close its underperforming stores
- Court approves Tops grocery store restructuring plan
- Starbucks to close stores for bias training
- Sears is closing 72 more stores
- Grocery store closing up after 100 years
- Charlotte Russe to close near 100 stores
- State DOT makes road salt more environmentally friendly
- Pet-friendly residence hall planned at Pennsylvania university
- Toys 'R' Us planning to close all 735 stores nationwide
- Whitesboro ice cream store closes after 33 years