LRC served as bankruptcy counsel to C&S Wholesale Grocers, Inc. and certain of its affiliates (collectively, “C&S”) in Tops Markets, LLC’s and its affiliated debtors’ (collectively, the “Debtors”) chapter 11 bankruptcy cases. The Debtors are a leading supermarket retailer with 160 owned grocery stores and 5 franchised stores in the Northeast. C&S is the Debtors’ primary supplier of grocery related goods and services. Prior to the filing, LRC negotiated an interim arrangement with the Debtors, which provided the estates with certain credit extensions and, in return, C&S received an allowed administrative expense claim in the aggregate amount of $56.5 million – $25 million of which was paid shortly after the filing with the remainder to be paid on the effective date of a plan. LRC also successfully negotiated a global settlement with the Debtors and the New York State Teamsters Conference Pension and Retirement Fund whereby the Debtors agreed to assume C&S’ supply agreements, C&S agreed to continue providing extended credit during the bankruptcy, C&S received an $80.1 million allowed general unsecured claim on account of certain indemnification obligations the Debtors owed to C&S, and the litigation pending between the parties was resolved. LRC continues to represent C&S’ interests in all aspects of the Debtors’ reorganization.
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