Penn Traffic
Tops was confirmed as the high bidder of Penn Traffic and on January 25, 2010 a federal judge signed off on an agreement in US Bankruptcy Court for the sale of same. The purchase stretched the company's footprint from Pennsylvania to New Hampshire. The Penn Traffic deal was for 79 stores, but Tops is closed four stores within two months, in addition to one in Ogdensburg, New York. In March 2010, it was announced that an additional five stores, including one in Ithaca, New York, would close. Five in Pennsylvania were sold to Giant Eagle The Tops name was placed on remaining stores within the next year. In August 2010, Tops was ordered by the Federal Trade Commission to sell seven stores it had acquired from Penn Traffic due to anticompetitive concerns. However, Tops was able to retain some of these locations.
Since taking over Penn Traffic, Tops has renovated these locations and has added or planned two locations in the City of Syracuse. The first new store is at the site of the former P&C Foods at Valley Plaza. This opened as a Tops on October 30, 2012. The second new store is planned for Pond Street, which was once home to a Wegmans Food Market. The Pond Street store opened in January 2013.
Read more about this topic: Tops Friendly Markets
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