Williamsville, N.Y.-based Tops Friendly Markets will soon complete its restructuring and emerge from Chapter 11 bankruptcy.
The company announced Nov. 8 that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the retailer’s plan of reorganization.
“We are pleased to receive the court’s approval of our plan and are poised to emerge from this process an even stronger and more competitive company,” Frank Curci, Tops CEO, said in a news release. “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.
“Importantly, we provided an opportunity for employment to every associate who was interested and impacted by store closings at other nearby stores,” Curci said in the release. “Our restructuring will create an even more exceptional shopping experience for our customers and assure that we will continue to serve our communities like no one else can.”
Tops Friendly Markets operates more than 150 locations in New York, Pennsylvania and Vermont.