Report of possible Tops Markets bankruptcy prompts union response

Report of possible Tops Markets bankruptcy prompts union response

According to Bloomberg, the owner of Tops Friendly Markets may be preparing for bankruptcy.

Jacksonville-based grocery store chain Winn-Dixie could soon close some of its stores for good. Bi-Lo is reportedly more than $1 billion in debt after being bought out by Lone Star Funds in 2005. Neither Bi-Lo, or its parent company Southeastern Grocers, commented on the reports.

Union President Frank DeRiso released a statement in response to the report saying, "Over the past several months we have been meeting with Financial Advisors hired by our International Union to continually monitor The finances of Tops Markets".

With low margins and ample competition, the grocery business has always been challenging. "The moves threaten to force older chains to either consolidate or revamp their operations".

WWE Drops Two Pay-Per-View Events
It has originally been expected that the show would be Raw exclusive, after flying under the blue banner last May. WWE initially split the roster into two brands back in the summer of 2016 when they also presented the WWE draft.

Bi-Lo purchased Winn Dixie in 2012 and operates locations in Alabama, Florida, Georgia, Louisiana and Mississippi.

Tops is based in Williamsville, in the Buffalo area, and runs about 170 stores in the Northeast.

Tops was founded by Italian immigrant Ferrante Castellani, who opened its first store nearly a century ago in Niagara Falls. Since then, the Trump administration has contemplated more reductions.

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