Update:
Tops is now the official owner of all the P&C stores. Tops Friendly Markets closed on the sale late Friday afternoon. The supermarket chain bought the majority of bankrupt company Penn Traffic's assets.
A bankruptcy court judge approved the deal earlier this week.
Tops President and CEO Frank Curci says "we are very eager and excited to being working with store manager and associates to best serve the grocery shopping needs of our new neighbors and customers."
Curci says all stores will remain open and operating while Tops evaluates each store for about 30 days. There is a list of stores that could be under considering for closing, but it is sealed by order of the bankruptcy judge.
Posted earlier:
Tops Markets delayed a planned media availability Friday afternoon because CEO Frank Curci was still waiting to finish signing paperwork for the company to purchase Penn Traffic's assets. The judge handling the bankruptcy case verbally approved the deal earlier in the week, but the sale has not been officially closed. Tops released a statement about the delayed availability saying "This is not uncommon in transactions of this nature."
The availability is expected to be rescheduled, and Curci will certainly be asked about which P&C stores might not survive under the switchover to Tops. Previously he has stated that the vast majority of P&C supermarkets will continue operating. Another major question, the fate of the P&C warehouses in the Town of Lysander. It has been widely reported that the warehouses, operated by an outside vendor under contract to Penn Traffic, would close after completion of the sale.
