Fairway announced the results of its bankruptcy auction on Wednesday, revealing that four Manhattan stores, a Bronx production and distribution center, and a Brooklyn store have been sold to two different companies. Plus, the leases to two New Jersey locations were sold to Amazon.
The company, which started as a produce stand on the Upper West Side in the 1930s before becoming a private equity acquisition in 2007, filed for Chapter 11 bankruptcy in January, as more competition from traditional brick-and-mortar chains like Whole Foods and Trader Joe’s and online grocers like FreshDirect has shifted its fortunes.
Village Super Market, which operates the ShopRite supermarket brand, is paying $76 million the Upper West Side, Upper East Side, and Kips Bay stores in Manhattan; the Pelham store in Pelham Manor, NY; the parking lot next to the Harlem store; and the production and distribution center in the Bronx. The Georgetowne store in Brooklyn was won by Seven Seas Georgetowne (a Key Food member) with a $5 million bid.
To read the rest of the story, please go to: Gothamist
