• Western New York-based Tops Markets said yesterday that “the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization. Tops expects to complete its restructuring and emerge from Chapter 11 shortly.”
Frank Curci, Tops’ CEO, said in a prepared statement that “through this process, we have accomplished several key objectives, including significantly reducing our debt, creating a viable cost structure and efficiently optimizing our store portfolio. Importantly, we provided an opportunity for employment to every associate who was interested and impacted by store closings at other nearby stores. Our restructuring will create an even more exceptional shopping experience for our customers and assure that we will continue to serve our communities like no one else can.”
• Reuters reports that “Coca-Cola is planning to launch a range of energy drinks for the first time on its own brand name as it intensifies efforts to break away from its traditional fizzy sodas and shift to health-focused trends.” The company reportedly “plans to launch new drinks which would be branded ‘Coca-Cola Energy’ and ‘Coca-Cola Energy No Sugar’ and made with naturally-derived caffeine and guarana extract.”
• USA Today reports that Sears Holdings “said Thursday that it will shutter another 40 Sears and Kmart stores in February, on top of the 142 locations it previously announced would be closing by the end of this year,” appearing “to be making good on its goal to emerge from bankruptcy a vastly smaller company.”
Frank Curci, Tops’ CEO, said in a prepared statement that “through this process, we have accomplished several key objectives, including significantly reducing our debt, creating a viable cost structure and efficiently optimizing our store portfolio. Importantly, we provided an opportunity for employment to every associate who was interested and impacted by store closings at other nearby stores. Our restructuring will create an even more exceptional shopping experience for our customers and assure that we will continue to serve our communities like no one else can.”
• Reuters reports that “Coca-Cola is planning to launch a range of energy drinks for the first time on its own brand name as it intensifies efforts to break away from its traditional fizzy sodas and shift to health-focused trends.” The company reportedly “plans to launch new drinks which would be branded ‘Coca-Cola Energy’ and ‘Coca-Cola Energy No Sugar’ and made with naturally-derived caffeine and guarana extract.”
• USA Today reports that Sears Holdings “said Thursday that it will shutter another 40 Sears and Kmart stores in February, on top of the 142 locations it previously announced would be closing by the end of this year,” appearing “to be making good on its goal to emerge from bankruptcy a vastly smaller company.”
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