Tops Friendly Markets has emerged from Chapter 11 bankruptcy, the company announced Nov. 19.
Restructuring has produced a “substantially stronger balance sheet” for the company, lowering its debt by $445 million and giving the company more than $100 million in liquidity, according to a news release. The changes are expected to allow Tops to keep investing in its stores and services like grocery pickup and delivery.
“We are moving forward as a stronger company with an even greater ability to provide convenience, savings and friendly service to customers across our communities,” CEO Frank Curci said in the release. “We are investing in our stores and rolling out new services that make shopping with us even easier.”
Tops is based in Williamsville, N.Y., and operates more than 150 supermarkets in New York, Pennsylvania and Vermont.