Tops Markets CEO Frank Curci is upbeat about the supermarket chain’s future, despite the challenges that remain after the company emerged from bankruptcy last November.
“We’re getting back up on our feet,” Curci said. “Business is going good, the company’s doing well. And we’re back doing all the things that we should be doing.”
Though Tops’ bankruptcy reorganization allowed it to greatly reduce its debt load, it still faces $55 million in annual interest payments, according to Bankruptcy Court papers. If interest rates rise, those interest payments will increase. With grocery margins sliding and competition increasing, it doesn’t give the company much wiggle room to wait out storms.
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