Court Confirms Tops Reorganization Plan; Affected Employees Offered New Positions, CEO Says

The U.S. Bankruptcy Court for the Southern District of New York confirmed Tops Friendly Markets’ reorganization plan this week, marking another milestone in the embattled grocery chain’s Chapter 11 bankruptcy proceedings.

The restructuring process will wrap up shortly, said Tops CEO Frank Curci in a news release Thursday. The company reached several key objectives, including reducing debt and offering employment to every interested employee who may have been affected by store closures, he said.

The chain filed for Chapter 11 bankruptcy in February and ended up shuttering 10 stores in New York this fall, including five in the Rochester region. All were selected for closure due to low profitability, the company said.

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