WILLIAMSVILLE, NY (WENY) -- Regional grocery store chain Tops Markets officially filed for Chapter 11 Bankruptcy Wednesday.
The company announced its pursuing a financial restructuring, to eliminate a portion of its debt and position itself for long-term success. Bloomberg reported over the weekend that Tops was considering filing for bankruptcy protection.
In a press release, the company announced it is seeking court authorization to continue to support its business operations during the restructuring, continue paying employees, vendors and suppliers without interruption.
The company says Tops customers should see no difference in their store's operation.
Tops operates nearly 170 stores in New York, Pennsylvania and Vermont, employing more than 14,000 people. Locally, there are Tops Markets in Bath, Corning, Watkins Glen, Ithaca, Big Flats, Elmira, Sayre, Towanda, Canton, Troy and Wellsboro.
Tops Restructuring Customer FAQ: http://www.topsrestructuring.com/wp-content/uploads/2018/02/Tops-Customer-FAQ.pdf