One of the keys to staying in business - especially big business, where minor changes in profit margins can have a major impact - is noticing when the buying habits of your customers change. Tops Market seem not to have noticed the growing trend for shoppers to prefer locally sourced food, or the increase in vegetarian or vegan-only buyers. Without adjusting their product range, they were suddenly and sharply squeezed by their competition, and left with no option but to file for bankruptcy.
Filing for bankruptcy isn't always the end though, and if you live on the East Coast and know Tops, if your local store is still there it may survive a while longer. Bankruptcy has allowed Tops to freeze interest payments on its debts, which were previously costing the struggling firm $80m a year. With that weight off their backs they're finding it a little easier to breathe, and for now, the stores remain open.