Tops gets court go-ahead to close under-performing stores
Buffalo, N.Y. – Tops Friendly Market has received the go-ahead to close some of its stores.
The company filed a motion last month to shut down some under-performing locations.
Tops isn’t saying which stores are being considered for closure.
The company said it is pursuing a financial restructuring "in order to eliminate a substantial portion of debt from the company’s balance sheet, and position Tops for long-term success."
Court documents show the company owes $3.3 million in outstanding utilities alone. It also shows the company has several empty store fronts for which it continues to pay rent.