According to a major financial news organization, Tops Friendly Makets may be in the process of filing for bankruptcy. 

Bloomberg News is reporting Tops is preparing to file for bankruptcy, possibly within the next few weeks.

Bloomberg is citing inside sources familiar with the supermarket chain. They say the Williamsville-based supermarket's debt and intense industry competition may be behind the potential filing.

"When it comes to Tops, my grandmother, my aunts, everyone that was from the ‘Baby Boom’ generation, they love to come to Tops. So, I can see that times are changing but I think Tops still has its own niche in this community,” said customer Brittany Applewhite. 

Tops currently has about 169 full service supermarkets and employs more than 15,000 people. So far, Tops has neither confirmed nor denied reports about the possible bankruptcy filing.