Tops Markets Chapter 11 plan accepted by all voting creditor classes

By Caroline Salls

Pittsburgh, Nov. 6 – Tops Markets, LLC’s plan of reorganization was accepted by all voting creditor classes, according to a ballot report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The plan was unanimously accepted by all 27 holders of $549.37 million in senior secured notes claims against the Tops Holding II Corp. debtor, the Tops Markets, LLC debtor, the Tops Holding, LLC debtor, the Tops Markets II Corp. debtor, the Tops PT, LLC debtor, the Tops Gift Card Co., LLC debtor and the Erie Logistics, LLC debtor.

A total of 87 holders, or 88.78% in number, of $1,182,718,486, or more than 99.99% in amount, in general unsecured claims against Tops Holding II voted to accept the plan, while 11 holders, or 11.22% in number, of $20,331, or less than 0.01% in amount, of those claims voted to reject it.

A total of 134 holders, or 82.72% in number, of $1,262,502,422, or 99.43% in amount, in general unsecured claims against Tops Markets voted to accept the plan, while 28 holders, or 17.28% in number, of $7.27 million, or 0.57% in amount, of those claims voted to reject it.

A total of two holders, or 66.67% in number, of $865.93 million, or more than 99.99% in amount, in general unsecured claims against the Tops MBO Corp. debtor voted to accept the plan, while one holder, or 33.33% in number, of $1.00, or less than 0.01% in amount, of those claims voted to reject it.

A total of 35 holders, or 85.37% in number, of $1,176,207,899, or more than 99.99% in amount, in general unsecured claims against Tops Holding voted to accept the plan, while six holders, or 14.63% in number, of $6.00, or less than 0.01% in amount, of those claims voted to reject it.

A total of 35 holders, or 92.11% in number, of $1,176,207,899, or more than 99.99% in amount, in general unsecured claims against Tops Markets II voted to accept the plan, while three holders, or 7.89% in number, of $3.00, or less than 0.01% in amount, of those claims voted to reject it.

A total of 64 holders, or 94.12% in number, of $1,176,466,326, or more than 99.99% in amount, in general unsecured claims against Tops PT voted to accept the plan, while four holders, or 5.88% in number, of $1,421, or less than 0.01% in amount, of those claims voted to reject it.

A total of 34 holders, or 97.14% in number, of $1,176,164,334, or 99.44% in amount, in general unsecured claims against Erie Logistics voted to accept the plan, while one holder, or 2.86% in number, of $6.6 million, or 0.56% in amount, of those claims voted to reject it.

A total of 35 holders, or 85.37% in number, of $1,176,207,899, or more than 99.99% in amount, in general unsecured claims against Tops Holding voted to accept the plan, while six holders, or 14.63% in number, of $6.00, or less than 0.01% in amount, of those claims voted to reject it.

All 33 holders of $1,176,138,867 in general unsecured claims against Tops Gift Card voted to accept the plan, as did the one holder of $865.92 million in general unsecured claims against the TM1, LLC debtor.

The plan confirmation hearing is scheduled for Nov. 8.

Tops is a Williamsville, N.Y., supermarket operator that filed bankruptcy on Feb. 21. The Chapter 11 case number is 18-22279.

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