Tops Sells 7 Supermarkets To Quell FTC's Concerns

Law360, New York (August 5, 2010, 2:15 PM EDT) -- Tops Markets LLC has agreed to sell seven of the 79 supermarkets it acquired from bankrupt rival Penn Traffic Co. in order to settle allegations that the deal was anti-competitive in parts of New York and Pennsylvania.

According to the Federal Trade Commission, which announced the settlement Wednesday, competition was an issue in five local areas: Bath, N.Y.; Cortland, N.Y.; Ithaca, N.Y.; Lockport, N.Y.; and Sayre, Pa. Each of those areas has no more than three supermarkets within a 10- to 15-mile radius, and as a...
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