Royal Ahold announced yesterday that it intends to sell its Tops Markets business in upstate New York.
Tops, the largest chain in the Buffalo area and number two in Rochester behind Wegmans, has gotten smaller in the past year as the company sold off its Wilson Farms convenience store business as well as its supermarkets in Ohio.
Tops spokesman Denny Hopkins, said, the company is confident that a single buyer will be interested in picking up the business. "We think Tops is a very, very strong brand, and it’s a very attractive prospect for a buyer," he said.
While Mr. Hopkins said, "it's business as usual," Ahold's decision to seek a buyer for Tops means the company will have to suspend its $60 million store renovation program.
The Tops chain currently operates 72 stores in New York and Pennsylvania.
Discussion Question: What do you see as likely scenarios for Tops now that Ahold has decided to sell the chain?