Retail News

Private equity killed Fairway

Bloomberg/MSN 01/24/2020

Fairway Market is a New York City institution known for its extensive product assortment of cheese, imported beer, olives, olive oil, smoked salmon and other items not found in conventional supermarkets. The four-store grocery operator was growing slowly and profitably until Sterling Investment Partners bought an 80 percent stake in the business. In the end, the debt carried to finance that deal along with serious management missteps led Fairway to file for Chapter 11. The chain is seeking to sell its name and remaining stores.

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