The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Paramus NJ, according to the company Amazon Fresh will open up at the old Fairway location at 30 East Ridgewood Avenue, in the Fashion Center off of route 17, this summer.
the staff of the Ridgewood blog
Paramus NJ, Amazon Fresh has confirmed it will open this new grocery store in 2021 in Fashion Center Paramus at 30 East Ridgewood Avenue, on the north side of Paramus in what was formerly a Fairway location. . Amazon Fresh is situated in a prime location immediately near the intersection of Ridgewood Avenue and Highland Avenue, in Paramus, at Fashion Center Paramus.
Continue reading Amazon Fresh to Open at Fashion Center in Paramus
“When it first opened in Paramus it was a novelty so I went a few times. I got tired of the piss poor attitude of the cashiers. And the milk never seemed to last. Hope the company can straighten their balance sheet out, but if employees aren’t friendly its not getting my business. Maybe I got a few nasty Bronx transplants at the register, but after a few trips I decided to go elsewhere.”
the staff of the Ridgewood blog
Paramus NJ, its been two days of claims and counter claims ,but Fairway has agreed to a court-supervised sale process.
“We would like to extend gratitude to our employees, vendors, distributors and customers for their support, dedication, and loyalty over the years. It has always been Fairway’s priority to ensure our patrons are provided with the most optimal grocery experience, with the freshest foods and best quality products, and our employees feel appreciated. After careful consideration of all alternatives, we have concluded that a Court-supervised sale process is the best way to meet our objectives of preserving as many jobs as possible, maximizing value for our stakeholders, and positioning Fairway for long term success under new ownership.”
– Abel Porter, Chief Executive Officer at Fairway Market
Continue reading Fairway Agrees to a Court-Supervised Sale Process
the staff of the Ridgewood blog
Paramus NJ, we received in initial reported that Fairway the iconic New York City grocery chain is planning to file for a Chapter 7 bankruptcy, which means the grocery chain does not currently have a plan to continue to exist unlike when it filed what’s known as a Chapter 11 reorganization plan in 2016.
By Lisa Fickenscher
February 5, 2016 | 10:43pm
Fairway Market is starved for cash.
The quintessential New York grocery chain said Friday it needs to raise more capital by April to meet its debt obligations with its 15 stores in the metro area experiencing “significant losses.”
The company — whose stock is also in danger of being delisted from the Nasdaq — lost $35.7 million in the quarter ended Dec. 27 after losing more than $300 million over the past five years.
Revenue declined by 7 percent to $191.6 million from a year earlier, a regulatory filing revealed on Friday.
Fairway is counting on new stores to drive its growth, but conceded in the filing that “our current limited cash resources and significant leverage will adversely affect our ability to open new stores.”
The company went public in 2013 after decades of being owned and managed by the Glickberg family. Former CEO Howard Glickberg remains on the board.
The IPO was meant to jump-start an ambitious expansion plan led by Sterling Investment Partners, which wanted to expand into other regions of the country. Instead, the business, known for its fresh produce and high-quality prepared foods, is facing a possible bankruptcy.
https://nypost.com/2016/02/05/fairway-facing-danger-of-possible-bankruptcy/
https://nypost.com/2016/02/05/fairway-facing-danger-of-possible-bankruptcy/
