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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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School’s not out but marketers already planning for back-to-school shopping
It may seem a little premature given that school is still in session, but the first back-to-school study has been released.
About 62% of households plan to reduce back-to- school spending compared to 2015, according to a survey by Bizrate Insights, a division of Connexity. Average spend will be $606, or $1,086 for households with college-age children.

