Tops Evaluates P&C Closures

Tops Friendly Markets here plans to close "a handful" of the Penn Traffic stores it is acquiring, the company said.

WILLIAMSVILLE, N.Y. — Tops Friendly Markets here plans to close "a handful" of the Penn Traffic stores it is acquiring, the company said.

As expected, a bankruptcy court judge on Monday approved Tops' bid of $85 million plus other considerations for the 79 stores operated by Syracuse, N.Y.-based Penn Traffic, which filed bankruptcy last November for the third time in 10 years.

Tops is expected to finalize the acquisition this Friday, and to begin announcing some store c

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