Report: Amazon eyes stores owned by bankrupt New York grocer
Amazon reportedly seeks to purchase four New York City-area stores owned by Fairway Market.
According to the New York Post, Amazon is bidding in an auction for four stores in New York and New Jersey owned by Fairway Market. Fairway, which operates 14 stores, filed for Chapter 11 bankruptcy in January 2020. Village Super Market has entered an agreement to purchase up to five New York City Fairway stores and its distribution center for approximately $70 million.
The auction has been proceeding since Monday, March 16 and includes stores located in Brooklyn and Pelham, N.Y. and Woodland Park and Paramus, N.J. Amazon is said to have expressed interest in the stores before the COVID-19 pandemic broke out in the U.S. and is expected to win the auction. The e-tailer has not made clear exactly what it intends to do with the stores, which could be converted to one of several grocery or convenience brands owned by Amazon as well as turned into distribution centers.
To read the full article, click here.