Tops Closing 10 Stores in Central New York
10 Tops stores are closing in central New York, affecting 600 employees as part of a restructuring plan.
Frank Curci, Chief Executive Officer of Tops said most stores are 'profitable,' but there are some that are under-performing. "A few stores are not performing to our standards, due to a number of factors including location, store size, lack of visibility, and lease costs. We are using the tools available to us through the court-supervised process to conduct an orderly wind down of these stores."
The 10 stores affected:
West Genesee Street, Syracuse
South Salina Street, Syracuse
Lake Avenue, Rochester
N. Winton Rd., Rochester
Pittsford/Palmyra Rd., Fairport
Forgham Street, Lyons
Hamilton Street, Geneva
West 1st Street S., Fulton
S. Main Street, Elmira
Lake Flower Ave., Saranac Lake
Close to 600 of Tops 14,000 employees will be affected but Curci says "we will work with impacted associates to find them placement at nearby store locations."
The remaining Tops stores in central New York will remain open for now.
Tops filed a Plan of Reorganization with the United States Bankruptcy Court for the Southern District of New York August 31st.
“We are pleased to submit a plan that will establish a sustainable capital structure and provide the financial flexibility to create an even more exceptional shopping experience for our customers and emerge from this process as a stronger competitor," said Curcri.