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Fairway Markets to sell six New York stores

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NEW YORK — Fairway Market has awarded bids for six New York stores and two new New Jersey real estate leases in an auction supervised by a U.S. bankruptcy court.

Village Supermarket Inc., a member of Wakefern Food Corp., submitted the winning bid for five New York stores, including four in Manhattan and another just north of the city in Pelham Manor, N.Y. Village Supermarket also acquired Fairway’s production and distribution center. The purchase price was about $76 million. Another Fairway Market location in the Georgetown section of Brooklyn was acquired by Seven Seas Georgetown LLC, a Key Food member, for a purchase price of approximately $5 million.

Amazon Retail LLC submitted the winning bid for leases in Paramus and Woodland Park, N.J., for which it paid $1.5 million.

“We are pleased with the outcome of the auction and are grateful for our dedicated and hard-working employees, suppliers and distributors during this process which has taken place in these unprecedented times,” Fairway Market chief executive officer Abel Porter said in a statement. “Serving our community has always been our top priority and we remain committed to providing quality items and a safe shopping environment for our customers and our employees during this global health crisis.”

Fairway Market said it continues to serve its communities by operating all of its stores, including those not sold during the Court-supervised auction, and intends to do so for the foreseeable future.

 


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