Restructuring plans underway
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.