Fairway Receives Huge Offer To Sell Stores

Fairway has received at $75 million offer for six of its stores – five in Manhattan and one in Pelham Manor (Westchester), in addition to their distribution center in the Bronx, supermarketnews.com reports.

The offer came from Bogopa Enterprises Inc, which is based in Brooklyn and operates 26 Food Bazaar supermarkets. These stores are spread throughout NYC, Westchester, Long Island, New Jersey and Connecticut.

Fairway called this a “qualified overbid”, and told supermarketnews.com that it’s also looking at offers for their other stores.

“We would like to extend gratitude to our employees, vendors, distributors and customers for their continued support, dedication and loyalty during this process. Fairway’s store performance has generated significant interest in our stores. We look forward to a robust auction.”

Abel Porter, Fairway Market’s CEO

An auction is planned for March 16th under the Chaper 11 court-supervised sale process.

It’s unclear what would change with a new Fairway owner.

Earlier Fairway Coverage:

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