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Fairway Market
Fairway Market is an American grocery chain founded in 1933 by Nathan Glickberg. The brand is owned by the Wakefern Food Corporation, whose flagship supermarket cooperative network is ShopRite.
The flagship Fairway location at Broadway and West 74th Street on the Upper West Side of Manhattan is one of four surviving stores operated by Wakefern cooperative member, Village Super Markets. After years of rapid growth and financial trouble since it was purchased by a private equity firm, it filed for Chapter 11 bankruptcy in 2016 and again in 2020, when the chain dissolved and all but those four stores were closed.
Fairway Market is a specialty market with four locations in Manhattan.
Sterling Investment Partners, a private equity firm in Westport, Connecticut, bought a controlling stake in Fairway Market in January 2007 and expanded the chain in the Greater New York area. Sterling made a $150 million capital investment in Fairway.
In 2011, the chain had revenues of $550 million. It was spun off in an IPO on April 17, 2013, trading under its parent, Fairway Group Holdings Corp., on the NASDAQ under the ticker symbol "FWM". Sterling's push for rapid growth outside Fairway's upscale base on Manhattan's Upper West and East Sides, which led to price hikes and declining quality, has been blamed for the chain's collapse.
The original Fairway Market at West 74th Street on Manhattan's Upper West Side was originally a produce shop. By 1997, it had expanded with a café that became a steakhouse at night.
In 2011, Fairway opened two more locations: one on the Upper East Side of Manhattan, which opened on July 20, and the other in the Douglaston neighborhood of Queens, which opened on November 16. In 2012, Fairway Market opened three more locations: in Woodland Park, New Jersey, on June 6; Westbury, New York, on August 22; and Kips Bay in Manhattan in late December. In 2013, Fairway Market opened a location in Chelsea, Manhattan, and another at The Shops at Nanuet shopping mall in Nanuet, New York.
As of 2020, all but five of these Fairway stores have either closed or sold to other retailers, including Amazon. The sequence of all stores is as follows:
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Fairway Market
Fairway Market is an American grocery chain founded in 1933 by Nathan Glickberg. The brand is owned by the Wakefern Food Corporation, whose flagship supermarket cooperative network is ShopRite.
The flagship Fairway location at Broadway and West 74th Street on the Upper West Side of Manhattan is one of four surviving stores operated by Wakefern cooperative member, Village Super Markets. After years of rapid growth and financial trouble since it was purchased by a private equity firm, it filed for Chapter 11 bankruptcy in 2016 and again in 2020, when the chain dissolved and all but those four stores were closed.
Fairway Market is a specialty market with four locations in Manhattan.
Sterling Investment Partners, a private equity firm in Westport, Connecticut, bought a controlling stake in Fairway Market in January 2007 and expanded the chain in the Greater New York area. Sterling made a $150 million capital investment in Fairway.
In 2011, the chain had revenues of $550 million. It was spun off in an IPO on April 17, 2013, trading under its parent, Fairway Group Holdings Corp., on the NASDAQ under the ticker symbol "FWM". Sterling's push for rapid growth outside Fairway's upscale base on Manhattan's Upper West and East Sides, which led to price hikes and declining quality, has been blamed for the chain's collapse.
The original Fairway Market at West 74th Street on Manhattan's Upper West Side was originally a produce shop. By 1997, it had expanded with a café that became a steakhouse at night.
In 2011, Fairway opened two more locations: one on the Upper East Side of Manhattan, which opened on July 20, and the other in the Douglaston neighborhood of Queens, which opened on November 16. In 2012, Fairway Market opened three more locations: in Woodland Park, New Jersey, on June 6; Westbury, New York, on August 22; and Kips Bay in Manhattan in late December. In 2013, Fairway Market opened a location in Chelsea, Manhattan, and another at The Shops at Nanuet shopping mall in Nanuet, New York.
As of 2020, all but five of these Fairway stores have either closed or sold to other retailers, including Amazon. The sequence of all stores is as follows:
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