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Business

The owners of Tops Markets, with a hefty debt burden and soft sales causing its losses to nearly double last year, filed for bankruptcy protection on Wednesday in hopes that it can slash its interest payments and emerge in more competitive financial shape. Tops said it has no plans for sweeping store closings. Management will stay the same. It plans to honor its union c…

Business

Pull into a Tops Markets parking lot and you'll see plenty of cars. Walk inside, and the shelves are full. Shoppers are lined up waiting to check out. It's not the picture you'd expect at a company that analysts say is stretched to its financial limit and Bloomberg News reports could be on the verge of filing for a bankruptcy reorganization. How can a seemingly so…

Business

Questions have been swirling around Tops Markets since Bloomberg News reported Saturday that the Amherst-based grocery chain may be getting ready to file for protection from creditors under Chapter 11 of the bankruptcy code Here are some questions the report has raised among shoppers and employees, and how analysts and local business attorneys say the possibility of a b…