Tops is back in the same old rut, thinking about its million-dollar bonuses, after the bankruptcy court settlement. That’s what Tops does every once in a while, 10-15 years on average, until all the options run out, and a new owner is surfaced to take it over in exchange for millions more to the Tops officials.
This is the lack of business ingenuity, lack of commitment, lack of dedication and hard work at the top leadership of the company. A tiny portion of the amount of the millions of dollars Tops has spent in the bankruptcy court would have been enough to reset the company to grow and prosper.
According to a Buffalo News front-page article, Tops used the bankruptcy court to benefit the corporate officials themselves in the first place, awarding themselves with bonuses topping $3.6 million for the five most high-ranking officials of the company. It was a very cleverly designed plan to be executed soon after emerging from bankruptcy, possibly as early as November, rather than during the bankruptcy process itself.
Tops would have been beter off devising a suitable plan for each of the nine closed stores, to keep them running for many reasons: It would cost much less than bankruptcy court; it would have been a kind act of appreciation to those hundreds of Tops employees who worked tirelessly for the upkeep of the facilities; it would have been a great recognition to hundreds of it customers, to whom those were their favorite grocery stores.
Tops is capable of doing a better job in handling this incredibly large company to the benefit of Western New Yorkers.