REPORT: Tops owners preparing for bankruptcy, local impact unknown

A report by Bloomberg says two U.S. supermarkets — one that has a number of stores in the Finger Lakes region — could be preparing for bankruptcy.

The owner of Tops Friendly Markets could potentially seek court protection from creditors as soon as this month, the report says.

It’s unclear how bankruptcy would impact local stores, but the report notes that mounting pressure from a grocery market that’s become increasingly competitive and deal-oriented has made keeping profits steady a challenge.

Read the original report from Bloomberg here.

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