NEW YORK – Fairway Market has announced winning bids for six of the New York-based company’s stores after the grocer declared Chapter 11 bankruptcy.
Village Supermarket, Inc., Springfield Township, NJ, has acquired four of Fairway’s Manhattan Stores as well as a production and distribution center for approximately $76 million.
A Fairway store in Brooklyn, NY will go to Seven Seas LLC for approximately $5 million, and a winning bid of $1.5 million gave Amazon the leases for Fairway stores in Paramus, NJ, and Woodland Park, NJ.
Fairway continues to operate all of its stores, including the ones not sold during the auction, and intends to do so for the foreseeable future.
"We are pleased with the outcome of the auction and are grateful for our dedicated and hard-working employees, suppliers and distributors during this process which has taken place in these unprecedented times," said Abel Porter, chief executive officer of Fairway Market. "Serving our community has always been our top priority and we remain committed to providing quality items and a safe shopping environment for our customers and our employees during this global health crisis."