Tops Markets to close 10 “underperforming” stores, including three CNY locations

Tops Markets, LLC on Thursday said it plans to close one store each in Syracuse, Geddes, and Fulton by the end of November.

They’re among 10 “underperforming” stores that Tops plans to shutter, the company said in a news release.

The Syracuse store is located at 4141 S. Salina St. in the Valley, the Geddes store is at 2120 W. Genesee St. in the Westvale Plaza, and the Fulton store is at 909 West 1st Street S.

Other Tops stores on the closure list include two locations in Rochester and single locations in Fairport, Lyons, Geneva, Elmira, and Saranac Lake.

Tops made the announcement “following a comprehensive evaluation of its store portfolio and in connection with its ongoing financial-restructuring process,” per its news release.

The grocery-store operator is closing the stores “as it continues to focus on strengthening its financial position so it can invest further in its [existing] stores… and compete more effectively in today’s highly competitive and evolving market,” Tops explained.

The impacted stores are currently open and continuing to serve customers. Fewer than 600 of the of the company’s 14,000 employees work at the affected stores and these stores “represent less than 4 percent of Tops’ overall sales,” per the release.

“… we have many openings across our chain of stores and to the extent possible, we will work with impacted associates to find them placement at nearby store locations,” Frank Curci, CEO of Tops Markets, said in the release.

In conjunction with Thursday’s announcement, Tops intends to file a motion with the U.S. Bankruptcy Court seeking authority to assume the leases of continuing stores and “reject leases and conduct store closings at the 10 affected locations.”

Other than the 10 stores indicated, all other stores are “expected to remain open and are either on the list to be assumed or in the final stages of documentation.”

Tops Markets, LLC, which is headquartered in the Buffalo suburb of Williamsville, operates 169 supermarkets. Franchisees operate five additional locations under the Tops Markets banner. The company operates stores in upstate New York, Northern Pennsylvania, and Vermont.

Syracuse mayor reaction

In response to Tops Markets’ decision to shutter one store in his city, Syracuse Mayor Ben Walsh issued the following statement:

“When Tops announced it was considering store closures, the City of Syracuse reached out to company management to offer assistance regarding locations in Syracuse. Quality, affordable, and fresh food options are important to city residents.

During the past several months, the City worked closely with Tops and its landlords in Syracuse. Although Tops made the decision to close one location inside city limits — the Valley store on South Salina Street — the City and the landlord at that location are in discussions regarding attracting another use at that site.

While we regret losing any quality food suppliers, the City is pleased its proactive work with Tops helped to prevent the inclusion of any other locations inside the city on the store closure list.”

Contact Reinhardt at ereinhardt@cnybj.com