Retail Merchandiser - March/April 2018 - 53

those in need - showing that together
we can truly make an amazing difference
in so many people lives," Curci said.
As a supermarket business, hunger
is a natural issue for TOPS to tackle.
However, the company's philanthropic efforts go beyond feeding less fortunate members of its communities.
In 2016, TOPS raised more than
$189,000 for the United Way of Erie
and Niagara County and also participated in donation drives for the Bradford Humane Society.
One of its most successful programs
is TOPS in Education, which has
raised nearly $700,000 for more than
1,000 schools during the past five years.
"TOPS in Education program allows
us to do so much more for our students," Kelly Ashcraft, president of the
Tiger Support Network from Warsaw
Elementary School. "It really shows the
dedication to the communities that the
stores serve."
The program raises funds by donating a percentage of the sale of select
private brand items. "TOPS in Education helps our shoppers support
the youth of their communities," said
Kathleen Allen, senior manager of
community relations for TOPS. "This
program fulfills a promise to our shoppers, a promise that helps them receive
a fantastic value while helping provide
funding to educational programs in the
towns that we serve."

Restructuring for Future
Just as it has supported its community, TOPS will need support from its
customers as it enters the next stage of
its history. After 56 years in business,
TOPS is facing its biggest challenge. In
February, the company filed for Chapter 11 bankruptcy to eliminate debt.
However, TOPS expects to emerge
from bankruptcy in a stronger position.
As part of its bankruptcy filing, the
company announced it had received a
commitment for a $125 million debtor-in-possession loan from some note
holders and a $140 million loan from
Bank of America to support its continued operations during the court-supervised restructuring. TOPS also intends
to pay vendors and suppliers in full under normal terms for all goods and services provided after Feb. 21, according
to a company statement.
"TOPS has built strong market share
and our stores continue to distinguish
themselves by offering quality products at affordable prices with superior
customer service," CEO Frank Curci
said. "We believe the financing that
we received from our note holders is a
vote of confidence in our business. Our
operations are strong and we have an
outstanding network of stores and a
talented team to support them."
In a statement, Curci said TOPS
would undergo a financial restructuring
to reduce its debt and achieve longterm financial flexibility. "This will enable us to invest further in
our stores,

Volume 58, Issue 2

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http://retail-merchandiser.com

Table of Contents for the Digital Edition of Retail Merchandiser - March/April 2018

Contents
Retail Merchandiser - March/April 2018 - Cover1
Retail Merchandiser - March/April 2018 - Cover2
Retail Merchandiser - March/April 2018 - 1
Retail Merchandiser - March/April 2018 - Contents
Retail Merchandiser - March/April 2018 - 3
Retail Merchandiser - March/April 2018 - 4
Retail Merchandiser - March/April 2018 - 5
Retail Merchandiser - March/April 2018 - 6
Retail Merchandiser - March/April 2018 - 7
Retail Merchandiser - March/April 2018 - 8
Retail Merchandiser - March/April 2018 - 9
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Retail Merchandiser - March/April 2018 - 11
Retail Merchandiser - March/April 2018 - 12
Retail Merchandiser - March/April 2018 - 13
Retail Merchandiser - March/April 2018 - 14
Retail Merchandiser - March/April 2018 - 15
Retail Merchandiser - March/April 2018 - 16
Retail Merchandiser - March/April 2018 - 17
Retail Merchandiser - March/April 2018 - 18
Retail Merchandiser - March/April 2018 - 19
Retail Merchandiser - March/April 2018 - 20
Retail Merchandiser - March/April 2018 - 21
Retail Merchandiser - March/April 2018 - 22
Retail Merchandiser - March/April 2018 - 23
Retail Merchandiser - March/April 2018 - 24
Retail Merchandiser - March/April 2018 - 25
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Retail Merchandiser - March/April 2018 - 27
Retail Merchandiser - March/April 2018 - 28
Retail Merchandiser - March/April 2018 - 29
Retail Merchandiser - March/April 2018 - 30
Retail Merchandiser - March/April 2018 - 31
Retail Merchandiser - March/April 2018 - 32
Retail Merchandiser - March/April 2018 - 33
Retail Merchandiser - March/April 2018 - 34
Retail Merchandiser - March/April 2018 - 35
Retail Merchandiser - March/April 2018 - 36
Retail Merchandiser - March/April 2018 - 37
Retail Merchandiser - March/April 2018 - 38
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Retail Merchandiser - March/April 2018 - 40
Retail Merchandiser - March/April 2018 - 41
Retail Merchandiser - March/April 2018 - 42
Retail Merchandiser - March/April 2018 - 43
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Retail Merchandiser - March/April 2018 - 45
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Retail Merchandiser - March/April 2018 - 47
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Retail Merchandiser - March/April 2018 - 49
Retail Merchandiser - March/April 2018 - 50
Retail Merchandiser - March/April 2018 - 51
Retail Merchandiser - March/April 2018 - 52
Retail Merchandiser - March/April 2018 - 53
Retail Merchandiser - March/April 2018 - 54
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Retail Merchandiser - March/April 2018 - 80
Retail Merchandiser - March/April 2018 - Cover3
Retail Merchandiser - March/April 2018 - Cover4
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