Tops announces plan approved to emerge from Ch. 11 bankruptcy
WILLIAMSVILLE, N.Y. (WHAM) - Tops Friendly Markets will be emerging from Chapter 11 bankruptcy soon.
The company announced Thursday that its plan for reorganization was approved by the U.S. Bankruptcy Court for the Southern District of New York.
“Through this process, we have accomplished several key objectives, including significantly reducing our debt, creating a viable cost structure and efficiently optimizing our store portfolio," said Frank Curci, Chief Executive Officer of Tops. "Importantly, we provided an opportunity for employment to every associate who was interested and impacted by store closings at other nearby stores."
The company first announced it was filing for bankruptcy in February.
The company is posting some information about the proceedings on a website here.
13WHAM News will continue to update this story as more information becomes available.