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FAIRWAY!!!

SLB

By SLB
in New York: Cooking & Baking

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KennethT

KennethT

Posted
Posted

interesting... I had heard about the Chapter 7 also, and is a shame since they are my local grocery store and I probably shop there the most.  I read one article that brought up how the parent company of ShopRite had been interested in buying them a while ago, but no one knows what happened to that

dcarch

dcarch

Posted
Posted

The day will be here soon. No more local stores or traditional supermarkets.

 

Amazon will takeover all food and grocery shopping.

 

dcarch

 

 

 

 

 

SLB

SLB

Posted
  • Topic Starter
Posted (edited)

Hmm.  While the Post has a, uh, range which differs from the NY broadsheet rag, I'm not sure it's actually less credible.  

 

I appreciate Fairway's statement; but Fairway would not be the first company -- or person -- to protest: I know it looks like it, but I'm not broke, not at ALL! 

 

I mean, I used to do it all the time, myself.

 

But, fingers crossed for fake news.

Edited by SLB (log)
JoNorvelleWalker

JoNorvelleWalker

Posted
Posted
7 hours ago, dcarch said:

The day will be here soon. No more local stores or traditional supermarkets.

 

Amazon will takeover all food and grocery shopping.

 

dcarch

 

 

And this is a bad thing?

 

Cooking is cool.  And kitchen gear is even cooler.  -- Chad Ward

Whatever you crave, there's a dumpling for you. -- Hsiao-Ching Chou

Steve R.

Steve R.

Posted
Posted

The latest is that the 5 stores (all in Manhattan) and the Bronx distributer are in negotiations to be bought.  Afterwards, the plan is for the new owners to keep the Fairway name on those stores and stay in business.

The other stores (like mine in Red Hook, Brooklyn) are, for now, staying open with the current owners, who are shopping them around for buyers.  The current owners are saying that this is temporary and that they cannot afford to keep them open themselves for long.

  • 1 month later...
Alex

Alex

Posted
Posted

Here's the financial history behind the bankruptcy.

 

Quote

Upscale and idiosyncratic, with its humble roots still evident, Fairway is emblematic of the city in which it has become a storied institution. But, fatefully, it is also emblematic of the way private-equity investors—including Fairway’s former owner Sterling Investment Partners—have hastened the fall of brick-and-mortar stores caught in the so-called retail apocalypse.

 

"There is no sincerer love than the love of food."  -George Bernard Shaw, Man and Superman, Act 1

 

"Imagine all the food you have eaten in your life and consider that you are simply some of that food, rearranged."  -Max Tegmark, physicist

 

Gene Weingarten, writing in the Washington Post about online news stories and the accompanying readers' comments: "I basically like 'comments,' though they can seem a little jarring: spit-flecked rants that are appended to a product that at least tries for a measure of objectivity and dignity. It's as though when you order a sirloin steak, it comes with a side of maggots."

 

A king can stand people's fighting, but he can't last long if people start thinking. -Will Rogers, humorist

gfweb

gfweb

Posted
Posted

When families sell to private equity it is nearly guaranteed that their business will either fail or change for the worse.

 

I don't begrudge them for selling. It's a business after all and they should take the best offer.

 

But I do tire of PE ruining a good business because they don't want to actually run it and maintain quality.

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