NEW YORK, May 5, 2020 /PRNewswire/ -- Fairway Market announces it will extend the closing date of its Paramus, NJ location to May 15, 2020. The store was purchased by Amazon in early March and Fairway has continued to operate the location in order to serve the community and preserve jobs.
The closure will allow the food retailer to reallocate resources and maintain operations at the seven remaining locations across the tri-state area that have continued to operate since filing for voluntary petition under Chapter 11 in January 2020.
"Fairway Market is committed to serving our communities and maintaining the jobs for our valued employees, especially in these unprecedented times," said Abel Porter, Chief Executive Officer at Fairway Market. "We have maintained operations in Paramus following the sale of this location. The closing of the store will allow us to redeploy our limited resources for the remaining seven locations where we continue operations during the court-supervised auction process." Porter added, "We want to extend our most heartfelt gratitude to the Paramus community for allowing Fairway to be their preferred food shopping destination."
Fairway Market's legal counsel is Weil, Gotshal & Manges, LLP, its M&A investment banker is PJ Solomon and its financial advisors are Mackinac Partners.
The Ad Hoc Group of senior lenders are represented by King & Spalding, LLP.