Proposed Consent Agreement In the Matter of Tops Markets LLC, a limited liability company, Morgan Stanley Capital Partners V U.S. Holdco LLC, a limited liability company, and The Penn Traffic Company, a corporation. FTC File No. 101 0074
The closing of the Riverside P&C Market would cause an extreme inconvenience and hardship on residents on the east side of Cortland and eastern parts of Cortland County. It is the only supermarket left in the City of Cortland and would impact sales tax revenue for the city (which has already suffered from a loss of sales tax revenue from businesses which have closed or moved into Cortlandville). I do not believe that Tops Markets' operating a store in the city of Cortland would result in unfair competition in the Cortland area marketplace, since Price Chopper, Save-a-Lot and Aldi's in Cortlandville have competed very successfully with the Tops Mkt. in Cortlandville and the two P&C Markets (that Tops purchased in resolution of the Penn Traffic bankruptcy)for several years. A number of people in the western and southern parts of the county shop at Clark's in Dryden, Greg's in Marathon or Wegmans in Ithaca. In October Walmart will be opening a new supercenter in Cortlandville (less than 1/4mi. from the Price Chopper store)which will greatly increase grocery business competition in the County. This will also increase the concentration of grocery outlets in western Cortlandville. Unless another competitive Grocery outlet is found to operate the P&C Riverside store (preventing the closure of the store), or a new supermarket was to open in the eastern part of Cortland (which doesn't seem likely)this FTC ruling would result in a great disservice to the Cortland community. Please allow Tops to operate and expand the Riverside market as they have planned.