Sale To Tops Markets
On January 25, 2010, Tops Markets' bid was signed off by a Federal Judge in US Bankruptcy Court and was awarded the sale of all 79 Penn Traffic stores. Closing occurred on Jan 29, 2010. The amount of the sale will end up being slightly more than the previously agreed upon price of $85 million cash and assumption of approximately $70 million of Penn Traffic's debt.
The BiLo name survives in Pennsylvania as those stores are franchises, though three former locations have since converted to Tops.
The P&C name (P&C Fresh) has been relaunched by three ex-PT executives in Cortland, NY; Ithaca, NY and Sayre, PA (this store has since sold to Tops).
Read more about this topic: Penn Traffic
Famous quotes containing the words sale, tops and/or markets:
“[T]he dignity of parliament it seems can brook no opposition to it’s power. Strange that a set of men who have made sale of their virtue to the minister should yet talk of retaining dignity!”
—Thomas Jefferson (1743–1826)
“Did Johnny look flashy?
Yes, his white-on-white shirt and tie were luminous.
His trousers were creased like knives to the tops of his shoes
And his yellow straw hat came down to his dark glasses.”
—David Wagoner (b. 1926)
“When the great markets by the sea shut fast
All that calm Sunday that goes on and on:
When even lovers find their peace at last,
And Earth is but a star, that once had shone.”
—James Elroy Flecker (1884–1919)