Tops Friendly Markets has completed its restructuring and has emerged from Chapter 11 Bankruptcy. The company says in a statement that it has emerged with a stronger balance sheet and has shed some $445 million in debt. Tops says it has also resolved labor and pension issues. CEO Frank Curci says Tops will […]
A day after announcing it will close five Rochester-area stores, Tops Markets has filed its plan of reorganization to get out of bankruptcy. Tops says it has court-approved agreements with its employee unions and approval from a large majority of its secured lenders. A court hearing in the Southern District of New York will be […]
Tops Markets wants to pay its top five executives up to $3.6 million in bonuses, if the company beats its financial targets as it tries to get out of bankruptcy. According to the Buffalo News, Tops also proposes up to $3.5 million in additional bonuses to 115 key employees; both to give them incentives […]
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