Tops CEO updates change timetable
SYRACUSE -- On the first business day after acquiring Penn Traffic's 79 grocery stores, Tops Markets' CEO says the changes to the P&C stores will be gradual.
In an interview with CNYcentral, Frank Curci says there's a transition agreement with Penn Traffic to keep the stores running for 30 days. In that time, Tops plans to restock shelves and reassure staff. "We want to do this the right way,' says Curci, who also says no decisions have been made to close any stores.
Curci says that his people need to learn more, financially, operationally, and community-wise. He says they've already gotten community appeals, and welcome more as they make decisions. Curci says geography will also be a factor, and that stores on the geographic fringes of the Tops service area may also be let go, though Tops says it would like to see all stores stay open, one way or another.
We asked if that means Price Chopper might yet get the four stores in the North Country. Curci says he's not closing the door to that, either.
Also, the P&C name may continue. One of the things the Tops team is evaluating is whether the 'brand identification' is important to the stores' communities. Curci says it will also be a little while before customers see advertisement changes (they're done six weeks in advance), or changes on uniforms, store bags or even store signs, if they change at all.
As for the Lakeland warehouses, which are believed to be closing, Curci points out that "has nothing to do with us". Tops did not buy those assets, and those discussions are being handled with the Tops supplier.
"We're excited," about the acquisition, says Curci, "and we hope customers will be patient as we gear up to do a better job in the stores"
