Fareway Meat & Grocery

Fairway Market says it is not calling it quits.

Fairway, the New York City grocer whose single store on the Upper West Side of Manhattan became a supermarket legend, may finally be being weighed down by its ambitious expansion program.

Another iconic New York City retailer is feeling the heat.

Regional grocery chain Fairway Market is putting the “self” in self-checkout with a new mobile app.

With 15 regional stores, New York-based Fairway Market needs to compete with larger rivals on quality of experience.   To that end, Fairway has deployed the omnichannel retail platform from Index to help better communicate with customers and provide an optimal experience across various touchpoints. The platform includes secure in-store payment solutions that offer processing flexibility and are compliant with EMV and P2PE protocols. Fairway can also accept a variety of tender types, including Apple Pay and Android Pay.  

Fairway Group Holdings Corp., the parent company of Fairway Market, has received a verdict on its May 2016 bankruptcy filing.

The iconic New York food retailer had its Chapter 11 bankruptcy reorganization plan unanimously accepted by 100% of voting secured lenders and confirmed by Bankruptcy Judge Michael E. Wiles. Fairway is expected to emerge from bankruptcy during the week of June 20, 2016 with approximately $50 million in cash, a $140 million reduction of its debt and a reduction of annual debt service obligations by up to $8 million.

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.

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.

Fred’s on Wednesday reported its Q4 and FY2015 earnings, as well as the news that board chairman Michael Hayes would be stepping down, to be replaced with longtime director Thomas Tashjian.

New Rochelle, N.Y. - Welco Realty Inc., an XTeam partner, has signed an approximately a 50,000-sq.-ft. lease with supermarket chain Fairway Market at Georgetowne Shopping Center in Brooklyn. New York.

Welco represented both the landlord, Astoria Holding Corp., and tenant in this transaction.