Thursday, January 23, 2020

Fairway Market files for Chapter 11, plans to sell all stores

Supermarket News
A day after refuting reports of an impending liquidation, Fairway Market said it has filed for Chapter 11 bankruptcy protection and aims to sell all of its 14 stores.

Fairway announced early Thursday that, as part of the Jan. 23 filing with the U.S. Bankruptcy Court for the Southern District of New York, the company has entered into a stalking horse asset-purchase deal to sell up to five New York City stores and its distribution center to ShopRite owner-operator Village Super Market for about $70 million.. . . more