Court approves Tops restructuring plan
WILLIAMSVILLE — The Tops grocery chain says it expects to emerge from bankruptcy “shortly,” after a court approved its restructuring plan.
Tops Markets chief executive Frank Curci said Thursday the chain is poised to be a stronger and more competitive company.
Headquartered in the Buffalo suburb of Williamsville, Tops announced in February that it was filing for Chapter 11 bankruptcy. Since then, it’s announced the closing of 10 stores — including one in Saranac Lake — and gotten court approval for a pension agreement with the United Food and Commercial Workers Union, which represents most of its workers.
Tops now has 159 supermarkets and 14,000 employees.
In October Tops closed one of its two supermarkets in Saranac Lake, on Lake Flower Avenue; meanwhile, the building owner of its other store, on Church Street, is seeking state aid for a half-million-dollar renovation. Elsewhere in the Adirondacks, there are Tops supermarkets in AuSable Forks, Elizabethtown, Schroon Lake, North Creek, Chestertown, Warrensburg, Bolton, Corinth and Northville.