Tops Markets has settled a major pension dispute that could have cost the company more than $180 million, making its path out of bankruptcy clearer, the Buffalo (N.Y.) News reported. The settlement, reached earlier this month following two days of meetings with a mediator, could end a fight that has dragged on for more than four years. The dispute has cast a cloud over Tops' finances, as well as the retirement funds of more than 600 workers at a grocery warehouse in Lancaster that the supermarket company acquired in December 2013. While the details are still being finalized and the deal must be approved by a bankruptcy judge, the settlement would resolve one of the biggest financial hurdles that Tops faces as it tries to restructure its business and emerge from bankruptcy. For Tops, the deal frees it from an expense that could have cost it more than $100 million. The agreement means Tops no longer would be liable to pay as much as $183 million over 20 years to meet funding obligations to the Teamsters pension fund.
