Quality Markets could be changing its name soon. The local chain of grocery stores is one of 79 supermarkets that is now officially the property of Tops Markets.

Tops’ bid to purchase the stores, once the property of the Penn Traffic Co., was approved by a U.S. bankruptcy court Monday. The deal was originally for $85 million, but could cost more after Monday’s hearing.

Delaware Bankruptcy Judge Peter Walsh signed off on the new agreement Monday evening.

Quality Markets’ Lockport location employs 71 people, 66 of whom are members of the United Food and Commercial Workers Local 1, the same union Tops employees belong to. The only other Quality store in metropolitan Buffalo is located on Main Street in Williamsville. Overall, Syracuse-based Penn Traffic employed about 5,800 people. Tops Markets has said no determination has been made on what will happen to all of the stores, but the goal is to retain as many employees as possible.

The deal comes with cash, as well as additional value created by reductions in unsecured claims made against Penn Traffic by UFCW Local One Pension Fund and C&S; Wholesale Grocers. The acquisition is expected to close by the end of this week.

“We are very pleased that the court has approved our comprehensive bid,” said Frank Curci, Tops’ president and CEO. “We look forward to the upcoming closing and the opportunity to bring the Tops Friendly Markets shopping experience to our new neighbors and customers.”

U.S. Sen. Charles Schumer issued a statement Monday afternoon concerning the court’s approval of Tops’ bid. Schumer has been very involved with the Penn Traffic bankruptcy, including pushing to extend the bidding process deadline to January instead of December.

“The judge’s signature on the court documents this afternoon marks the positive completion of our long journey and is the best possible outcome to ensure the vast majority of the 4,000 workers stay employed at decent wages and that the vast majority of stores stay open,” Schumer said. “A big thank you goes to Tops, the workers, GE Capital and the many thousands of Upstate New Yorkers who joined in this fight.”

Tops has more than doubled its presence in the region with the addition of the Penn Traffic stores. In addition to Quality Markets, Penn Traffic also owned P&C; Foods and Bi-Lo grocery stores in New York, Pennsylvania and Vermont.

Williamsville-based Tops has 71 locations and five franchise locations, including five in the Tonawandas; Meadow Drive in North Tonawanda, Young Street and Niagara Street in the City of Tonawanda and at Sheridan Drive and Delaware Avenue in the town. The company is also undergoing an aggressive $150 million renovation of its 76 locations. The work is aimed at making the stores as modern and energy-efficient as possible, the company said. Tops is also planning to open seven to 10 new stores over the next five years.

Tops made an original $85 million bid for Penn Traffic’s assets, including its 79 stores, earlier this month. The bid surpassed that of Price Chopper which had submitted a $54 million bid for 22 of Penn Traffic’s P&C; Foods locations. According to court documents, no other bids were submitted by the court deadline of Jan. 19.

Penn Traffic filed for Chapter 11 bankruptcy protection on Nov. 18, the third time in the past 10 years.

Contact reporter Joe Olenick at 439-9222, ext. 6241.