News Release
FOR IMMEDIATE RELEASE:
DATE:
 November 8, 2018
CONTACT: Kathy Sautter
716 635 5577

   
TOPS MARKETS PLAN OF REORGANIZATION CONFIRMED BY COURT
WILLIAMSVILLE, N.Y. – November 8, 2018 – Tops Markets, LLC (“Tops” or the “Company”) today announced that the United States Bankruptcy Court for the Southern District of New York (“the Court”) has confirmed the Company’s Plan of Reorganization (the “Plan”). Tops expects to complete its restructuring and emerge from Chapter 11 shortly.

“We are pleased to receive the Court’s approval of our Plan and are poised to emerge from this process an even stronger and more competitive company,” said Frank Curci, Chief Executive Officer of Tops. “Through this process, we have accomplished several key objectives, including significantly reducing our debt, creating a viable cost structure and efficiently optimizing our store portfolio. Importantly, we provided an opportunity for employment to every associate who was interested and impacted by store closings at other nearby stores. Our restructuring will create an even more exceptional shopping experience for our customers and assure that we will continue to serve our communities like no one else can.”

“On behalf of everyone at Tops, I want to thank all Tops associates, who have continued to provide customers with convenient, friendly and high-quality service. I also want to thank our loyal customers, suppliers and other stakeholders for their continued support throughout this process. ”

Additional Information

Additional information is available on Tops’ restructuring website at www.topsrestructuring.com or by calling Tops’ Restructuring Hotline, toll-free in the U.S., at (888) 764-7358. For calls originating outside of the U.S. please dial (503) 520-4457. Court documents and additional information can be found at a website administrated by the Company’s claims agent, Epiq, athttp://dm.epiq11.com/TOPS.

Weil, Gotshal & Manges LLP is serving as legal counsel to Tops, Evercore is serving as Investment Banker and FTI Consulting, Inc. is serving as restructuring advisor.

About Tops Tops Markets, LLC, is headquartered in Williamsville, NY and operates 159 full-service supermarkets with five additional by franchisees under the Tops Markets banner. Tops employs over 14,000 associates and is a leading full-service grocery retailer in Upstate New York, Northern Pennsylvania, and Vermont. For more information about Tops Markets, visit the company's website at www.topsmarkets.com.

Media Contacts: Kathy Sautter Tops Friendly Markets 716-635-5577/716-468-0216 (cell) ksautter@topsmarkets.com Andy Brimmer / Aaron Palash / Jeffrey Kauth Joele Frank, Wilkinson Brimmer Katcher 212-355-4449

 

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