Fairway Market, together with its debtor affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York, has named the winning bids for six Fairway stores on a going concern basis (five New York stores to Village Supermarket, Inc., a Wakefern member, and one store to Seven Seas Georgetowne, LLC, a Key Food member) and the sale of two real estate leases to Amazon.
Village’s winning bid includes four of Fairway’s Manhattan stores as well as Fairway’s production and distribution center for a purchase price of approximately $76 million. Seven Seas’ winning bid is for the Georgetowne store in Brooklyn for a purchase price of approximately $5 million. Amazon’s winning bid is for the leases in Paramus and Woodland Park in New Jersey for a purchase price of $1.5 million.
Fairway Market continues to serve its communities by operating all of its stores, including stores not sold during the Court-supervised 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, CEO at 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.”