Tops gets nod to buy rival Penn Traffic

ROCHESTER, N.Y. (AP) — A bankruptcy judge in Delaware gave Tops Friendly Markets the go-ahead Monday to acquire Penn Traffic Co.’s 79 supermarkets in the Northeast.

Tops, a 76-store chain based in suburban Buffalo, said U.S. Bankruptcy Judge Peter Walsh approved its offer to pay Penn Traffic $85 million in cash and eliminate about $100 million in unsecured claims against the estate of the bankrupt Syracuse-based grocer.

The sale, expected to close by Friday, will deepen Tops’ roots in New York and Pennsylvania and extend its reach into Vermont and New Hampshire. The East Main Street, Norwich, P&C will come under Tops ownership.

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