Re­struc­tur­ing plans un­der­way

The Oneida Daily Dispatch (Oneida, NY) - - Local News -

WILLIAMSVILLE, N.Y. >> Tops Mar­kets has re - ceived the go- ahead on a re­struc­tur­ing plan it hopes will help it emerge from Chap­ter 11 bank­ruptcy soon.

The United States Bank­ruptcy Court for the South­ern Dis­trict of New York con­firmed on Thurs­day the com­pany’s re­or­ga­ni­za­tion plan.

“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,” said Frank Curci, chief ex­ec­u­tive of­fi­cer of Tops. “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. Our re­struc­tur­ing will cre­ate an even more ex­cep­tional shop­ping ex- pe­ri­ence for our cus­tomers and as­sure that we will con­tinue to serve our com­mu­ni­ties like no one else can.”

Tops orig­i­nally pur­sued fi­nan­cial re­struc­tur­ing in Fe­bru­ary of this year.

“On be­half of ev­ery­one at Tops, I want to thank all Tops as­so­ci­ates, who have con­tin­ued to pro­vide cus­tomers with con­ve­nient, friendly and high-qual­ity ser­vice. I also want to thank our loyal cus­tomers, sup­pli­ers and other stake­hold­ers for their con­tin­ued sup­port through­out this process,” Curci said.

Ad­di­tional in­for­ma­tion is avail­able on Tops’ re­struc­tur­ing web­site at www.top­sre­struc­tur­ing.com or by call­ing Tops’ Re­struc­tur­ing Hot­line, toll-free in the U. S., at 1-888-764-7358. Court doc­u­ments and ad­di­tional in­for­ma­tion can be found at a web­site ad­min­is­trated by the Com­pany’s claims agent, Epiq, at http:// dm.epiq11.com/TOPS.

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