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Western New York-based Tops Markets announced last week that it will close 10 underperforming stores as part of ongoing bankruptcy proceedings, a move that comes “following a comprehensive evaluation of its store portfolio and in connection with its ongoing financial-restructuring process.” Tops said it will continue “to focus on strengthening its financial position so it can invest further in its [existing] stores… and compete more effectively in today’s highly competitive and evolving market.”

Tops currently runs 169 stores, and has five franchisees.
KC's View:
Closing unproductive stores is important, and restructuring one’s financial position is critical. To me, though, the most important question that Tops has to answer is how it is going to change its culture and retail brand to reflect where it needs to be in 2025 and beyond. “Culture of innovation” is easy to say, but incredibly hard to do. At the same time, just shoring up the base and focusing on a return to fundamentals is just delaying the inevitable …