Tops successfully acquires Penn Traffic’s assets

NORWICH – Tops Markets finalized its acquisition of Penn Traffic’s assets on Friday, closing on its bid to take over 79 of the bankrupt company’s grocery retailers, including the Norwich P&C. The original bid was submitted on Jan. 8.

“It’s over at last. The final step has been achieved,” stated U.S. Senator Charles E. Schumer. “The vast majority of workers will keep their jobs at good salaries and virtually all the stores will be kept open. I want to thank GE Capital for being flexible and allowing this deal to happen, the workers for being strong and persistent, and Tops for being generous and community minded. It’s a good day for New York.”

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