Is Tops Getting Ready To Close Stores In Buffalo?
We have heard more and more stores closing these days due to online shopping. Is that the case for Tops? Are they getting ready to close some stores?
According to the Rochester Democrat and Chronicle, they are seeking the court's permission to close stores that are underperforming in order to "preserve liquidity and maximize the value of their respective estates."
While they didn't name stores that might be affected, they did say that some are "sustainable profit centers," others have "consistently under-performed."
This comes just a few weeks after Tops declared bankruptcy in February.
Tops is headquartered just outside Buffalo in Williamsville and operates 169 full-service stores, with five additional locations operated by franchisees under the Tops Friendly Markets banner.
Look for the motion to go before the court on May 10 in White Plains, Westchester County.