Another Potential Buyer Emerges for Fairway; Bidding War Coming?
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.”
Please no more “fund manager” buyers.
Probably not a popular opinion but I hope they stick with ShopRite. The company has proven it knows how to manage grocery stores. It may change a few things but at least it can remain open.
I agree with the Shop Rite paragraph… I shop them in CT and the stores are run Grt …I reside in NYC and shop at 32nd and second ave … I do love that Fairway
They just have to hire better cashiers… very unfriendly..
Never ran into an unfriendly cashier a Fairway. It’s a pretty boring job so I for one did not expect to see a cashier jump up and down at my approach. Did find them friendly when spoken to in a civilized, respectful way.
I also have visited Food Bazaar stores in Connecticut and the Bronx as well as ShopRite in CT and Jersey. Nothing against Food Bazaar, but it is kinda second-rate. I have seen some pretty grimy locations, especially in Bridgeport, CT. ShopRite runs excellent stores with few exceptions. And while ShopRite doesn’t have as much international flavor, their prices are also a LOT lower than Food Bazaar and we NEED a good, reliable, reasonably-priced market to replace Fairway. I don’t want to have to go through another change in a year when Food Bazaar goes bankrupt.
ShopRite ain’t going anywhere. They have been around since my mom was a kid.
ShopRite has been around but before that it was known as A&P (The Great Atlantic & Pacific Tea Company) i’m sure you haven’t been around as long as I have but I remember when I was a kid I would shop with my father (it was a Friday night event) back in my kid days and we collected green stamps from A&P to put in a book and fill to receive large appliances.
At the same time my mother would shop at Gristedes for the Meats and Fish and gourmet items.
I was a cashier in an A&P in Radburn, a part of Fair Lawn, N.J. in 1966 (after school) and A&P had nothing whatever to do with ShopRite then or since, as far as I know… they owned Food Emporium, I believe (they might’ve actually morphed INTO Food Emporium), but I don’t know if one or both of them have since gone kaput.
Daitch Crystal Dairies/Shopwell owend The Food Emporium. A&P bought them back in 1980’s as part of their wave of expansion plans.
Originally A&P positioned FE as more upscale and to some extent it was; still remember delicious ready made quiches they sold. Would by several to stock up, ate one then put rest in freezer.
https://en.wikipedia.org/wiki/The_Food_Emporium
Food Emporium was originally Daitch Shopwell
I remember when Food Emporium was Daitch, back in the 50s and 60s. Then it was Shopwell, then FE. Throughout it it all, I still thought of it as Daitch, and if I didn’t bring my brain into the present day and mentioned I was going grocery shopping at Daitch, no one knew what I was talking about.
Here’s tons of info on Daitch, sorry! I mean Shopwell and Food Emporium.
https://en.m.wikipedia.org/wiki/The_Food_Emporium#Early_origins
Sorry, but ShopRite has no connection to A&P. They are independent of one another and have never shared ownership/management of a supermarket chain store. Billy Amato is conflating two long-lived store chains. A&P did acquire Pathmark to stay in the New York City market, but The Great Atlantic and Pacific Tea Company (1859-2015) and ShopRite (1946-present) are not related. As much as I cherish my childhood in A&P stores in Philly, ShopRite is/was no A&P.
And – merely a detail – but the A&P gave Plaid Stamps. S&H gave Green Stamps. And you needed only 1200 stamps to fill a book as opposed to 1500 stamps for S&H Green Stamps. After 428 books, you can get a Schwinn.
Or a Lava Lamp.
I have a feeling that Fairway (at least on the UWS) made more money this week — especially on toilet paper — than any week in their history. Maybe Coronavirus will stave off bankrupcy!
Anyone know if ShopRite got these stores or if Bogopa got them?