Bankruptcy

The Tops supermarket chain says it has emerged from bankruptcy.

Officials with Tops Markets say a federal bankruptcy court has confirmed the company’s plan of reorganization and that it expects to complete its restructuring and emerge from Chapter 11 shortly.

Tops Markets will close ten underperforming stores as part of its financial restructuring. None are in Western New York.

Sears is closing another 72 stores after reporting a first-quarter losses and plunging sales. The company says it will post a list of those locations on its website by midday.

The financially troubled CCS Oncology health care organization will be closing down its operations next week.

Bon-Ton has announced it will closed its doors on Aug. 31. The going-out-of-business sales will start as early as Thursday at Bon-Ton stores.

It appears no one wants to re-open Bon-Ton.

Calling all brides-to-be. Alfred Angelo is liquidating the last of its bridal gowns.

Add another name to the list of bankrupt retail chains.

Bon-Ton Stores, saddled with debt and struggling with weak sales as shoppers abandon traditional department stores, said Sunday it filed for Chapter 11 bankruptcy protection and was exploring a sale of all or part of the company.

Toys R Us is planning to close about 180 stores across the country, including 1 in the Buffalo area, in a bid to restructure the company and emerge from bankruptcy protection.

Personal bankruptcy filings increased across the region last month.

Bridal store chain Alfred Angelo is back in court Thursday morning.

Five local Payless stores will be closing, as the shoe chain is the latest to chafe financially because of the continuing consumer shift from in-store shopping to online retailing.

Direct Air, which suddenly suspended its flights this week into and out of Niagara Falls International Airport, filed for bankruptcy today.  The Myrtle Beach, South Carolina-based airline is seeking Chapter 11 protection. 

Papers filed with a bankruptcy court in Massachusetts indicate liabilities between $10 million and 50 million.  The Buffalo News reports Direct Air owes $88,000 in landing fees to the Niagara Frontier Transportation Authority.