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Tops proposing big bonuses for execs in bankruptcy filing

The latest reorganization filing by Tops in federal bankruptcy court shows the supermarket chain is trying once again to secure big bonuses for its top managers.

BUFFALO, N.Y. - Tops Friendly Markets is proposing controversial big bonuses: $3.6 million for high ranking executives in its newest bankruptcy filing. This new proposal also offers stock in the company.

The money is part of an incentive plan to make sure those executives see the bankruptcy and reorganization plan through.

This is the second time Tops proposed bonuses for its managers.

Creditors have ballots right now to either approve or reject the plan. If they get enough votes, the bankruptcy reorganization plans moves to a confirmation hearing on November 8.

A Tops Markets spokesperson turned down our request for an interview today.