Weeks after rumors swirled that it could close, Fairway is still up and running and providing an important service as people stock up on food to prepare to stay home and avoid the coronavirus.
The company filed for Chapter 11 bankruptcy in January, and is attempting sell its stores. Village Super Market, the owner of Shoprite, has already put in a $70 million bid to buy the Manhattan Fairway locations and its distribution center. But now the company has received a $75 million “qualified overbid” for its Manhattan and Pelham Manor, NY stores from a company called Bogopa Enterprises that owns the Food Bazaar chain in New York, according to Supermarket News.
“Fairway reported Wednesday that it’s evaluating competitive offers for various other stores. Plans call for an auction to be held on March 16 under the Chapter 11 court-supervised sale process,” Supermarket News reported.
“We would like to extend gratitude to our employees, vendors, distributors and customers for their continued support, dedication and loyalty during this process,” Fairway Market CEO Abel Porter said in a statement. “Fairway’s store performance has generated significant interest in our stores. We look forward to a robust auction.”