Fairway says it isn’t shutting down, despite reports

Company tweeted it has no plans to file for Chapter 7 bankruptcy or close its stores

New York /
Jan.January 22, 2020 12:42 PM
Fairway Market (Credit: Getty Images)

Fairway Market (Credit: Getty Images)

Fairway Market has disputed an explosive report that it plans to shut down, writing on Twitter that it “has no intention to file for chapter 7 [bankruptcy] or liquidate all of its stores.”

“All 14 stores remain open for business, offering a complete range of high quality, specialty food products,” the company wrote, “and we look forward to seeing our customers and employees.”

Fairway posted the tweet on Wednesday morning in response to a New York Post article that claimed that the popular grocery store chain was going to file for Chapter 7 bankruptcy and close all 14 of its stores, including its flagship location at Broadway and West 74th Street on the Upper West Side, where its rent is apparently $6 million a year.

Fairway’s brand in New York dates back to 1933, and the company has long been one of the most popular and recognizable grocery stores in the city. However, it has recently faced growing competition from Whole Foods and Trader Joe’s, along with the online grocer FreshDirect.

The grocery store filed for Chapter 11 bankruptcy in 2016 but emerged from it a few months later with GSO Capital Partners as its new owner. However, GSO is no longer an investor in Fairway.


Related Articles

arrow_forward_ios
Madison Realty principal Josh Zegen, Raphael Toledano with the properties at 325-329 East 12th Street and 223-235 East 5th Street (Madison Realty, Google Maps, Toledano by Michael McWeeney)
Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
Photo illustration of Brookfield Property Partners’ Brian Kingston (Brookfield, iStock)
Struggling hotel company handing Brookfield the keys
Struggling hotel company handing Brookfield the keys
(iStock/Illustration by Kevin Rebong for The Real Deal)
Developer Tomer Dafna hit with involuntary bankruptcy petition
Developer Tomer Dafna hit with involuntary bankruptcy petition
AMC CEO Adam Aron (Getty, iStock)
AMC reopens 90% of U.S. theaters
AMC reopens 90% of U.S. theaters
Washington Prime Group CEO Louis Conforti (Twitter, iStock)
Mall owner Washington Prime Group prepares for bankruptcy
Mall owner Washington Prime Group prepares for bankruptcy
Ascena owns Ann Taylor, Lane Bryant, Lou & Grey and Cacique. (Getty)
Ascena restructuring approved post-bankruptcy
Ascena restructuring approved post-bankruptcy
The bankruptcy filing was made to protect the value of the Denizen. (The Denizen)
All Year LLC opts for bankruptcy to stop Bushwick foreclosure
All Year LLC opts for bankruptcy to stop Bushwick foreclosure
David Umansky of Civic Builders and 720 Livonia Ave in Brooklyn (Photos via Google Maps, Civic Builders)
Charter school developer buys Brooklyn site out of bankruptcy
Charter school developer buys Brooklyn site out of bankruptcy
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...