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Iconic New York grocer files for bankruptcy
In a not unexpected move, Fairway Group Holding Corp., operator of the Fairway Market supermarket chain, filed for Chapter 11 bankruptcy protection.
The company filed a “prepackaged” bankruptcy restructuring under which its lenders agreed to exchange existing debt for new equity and debt in a reorganized company. Supporting lenders agreed to vote in favor of the plan and exchange their loans for common equity and $84 million of debt of the reorganized company.
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Under Armour shakeup
Under Armour is losing two key members of its executive team.
Chief merchandising officer Henry Stafford and chief digital officer Robin Thurston are both stepping down from their positions in July. No reason was given for their departures.
Stafford joined Under Armour in 2010 as the apparel team lead. He will be succeeded on an interim basis by Kip Fulks, who most recently served as Under Armour’s chief marketing officer.

