June 2, 2018 / 12:12 AM / 6 months ago

Bankrupt supermarket chain Tops, Teamsters notch key settlement

Supermarket chain Tops said on Thursday it reached a peace pact with the Teamsters and the union’s pension fund that ends fighting over bonuses for senior managers and clears the way to bring the company out of bankruptcy.

Tops in court papers said the settlement will allow it to withdraw from the union pension plan and shift funds that had been earmarked for management bonuses to shore up union retirement plans.

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