Fairway Market Files for Chapter 11 Bankruptcy Protection

01/25/2020

On Thursday, January 23rd, Fairway Market announced that it has filed for Chapter 11 bankruptcy and has entered into negotiations with ShopRite to purchase five New York City stores and a distribution center for $70 million.

 

Fairway has eight stores in New York City, two on Long Island, one in Westchester County, two in New Jersey, and one in Connecticut. The court will supervise divestment of the stores not purchased by ShopRite.

 

CEO of Fairway Market, Able Porter stated “After careful consideration of all alternatives, we have concluded that a court-supervised sale process is the best way to meet our objectives of preserving as many jobs as possible, maximizing value for our stakeholders, and positioning Fairway for long-term success under new ownership.”


































































































































































































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