Fairway Agrees to Sell Five Stores to ShopRite Owner in Ch. 11

Fairway Group Holdings Corp., owner of the iconic New York supermarket chain, agreed to sell five of its 14 stores and a distribution center to Village Supermarket Inc., which owns the ShopRite grocer chain.

• The deal, with a purchase price of about $70 million, was announced as part of Fairway’s Chapter 11 bankruptcy filing in New York early Thursday morning
• Village Supermarket, whose stores are predominantly located in New Jersey, will act as a so-called stalking-horse bidder during a court-supervised auction, Abel Porter, Fairway’s chief executive officer, said in a court declaration
• Fairway held talks with two potential stalking-horse ...