A bid in U.S. Bankruptcy Court by Tops Markets LLC to take over Penn Traffic Co. has been accepted by creditors and submitted for approval.
The offer presented to the court in Delaware Friday morning by Williamsville-based Tops is for a reported $85 million for 79 supermarkets operated by Syracuse-based Penn Traffic under three brand names, including Quality Markets in Western New York.
http://www.bizjournals.com/buffalo/s...4/daily46.html
People who wonder if the glass is half empty or full miss the point. The glass is refillable.
This is great news for the store employees and the communities where the Quality Markets are located! A lot of the Qualities are located in small towns in WNY where they are the only grocery store/supermarket around like Randolph, Mayville, Frewsburg. Even the three Jamestown area stores (Falconer, Southside Plaza, and Lakewood) were in areas not well served by other supermarkets. Because Penn Traffic had closed all their under-performing stores previously, these supermarkets are all doing well.
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