Syracuse, N.Y. -- Tops Markets plans to close 10 stores, including three in Central New York, that the struggling supermarket chain says are underperforming.
The stores include one in Syracuse, one in Geddes and one in Fulton. They will all close by the end of November, the company said Thursday.
"Tops is taking this action as it continues to focus on strengthening its financial position so it can invest further in its stores, create an even more exceptional shopping experience for customers, and compete more effectively in today's highly competitive and evolving market," the company said in a statement.
The three Central New York stores scheduled to close are at 2120 W. Genesee St. in Westvale Plaza in Geddes, 4141 S. Salina St. in Valley Plaza in Syracuse and 909 West 1st Street S. in Fulton.
Here is the complete list of stores to close:
- 2120 West Genesee Street, Geddes
- 4141 South Salina Street, Syracuse
- 710 Lake Avenue, Rochester
- 175 N. Winton Rd., Rochester
- 6720 Pittsford/Palmyra Rd., Fairport
- 33 Forgham Street, Lyons
- 381 Hamilton Street, Geneva
- 909 West 1st Street S., Fulton
- 299 S. Main Street, Elmira
- 622 Lake Flower Ave., Saranac Lake
Tops said 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.
"We will treat affected associates fairly and with the respect that they deserve," CEO Frank Curci said in a statement. "Importantly, 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."
The company operates 169 full-service supermarkets, with an additional five stores operated under the Tops name by franchisees, in Upstate New York, Northern Pennsylvania and Vermont.
"The vast majority of our stores are profitable and we are seeing strong customer support continue to drive growth in these locations," Curci said. "That said, there are a few stores that are not performing to our standards, due to a number of factors including location, store size, lack of visibility and lease costs."
He said Tops will "continue serving our communities with existing locations that are all in close proximity to the affected stores."
Tops filed for reorganization under Chapter 11 of U.S. Bankruptcy Code on Feb. 21, reporting more than $720 million in debt. In May, a bankruptcy judge gave the Williamsville-based company permission to close underperforming stores, but the company did not at that time say which stores would close.
The company said it will file a motion with the court seeking permission to break its leases at the 10 stores targeted for closing. All of its other stores will remain open, it said.
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