Fairway files 'prepackaged' Chapter 11

Fairway files 'prepackaged' Chapter 11

Plan to turn debt to new equity; stores to remain open

The parent company of iconic New York grocery chain Fairway Market has filed a "prepackaged" Chapter 11 bankruptcy restructuring Tuesday whereby lenders have agreed to exchange existing debt for new equity and debt in a reorganized company.

Fairway, suffering under heavy debts and competition from a variety of formats, said it filed the plan after an extensive search for a buyer or other substantial investment was unsu

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