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Fairway Group Holdings Inc. (fka FWMHQ)

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Last Post: 7/6/2016 1:47:02 PM - Followers: 12 - Board type: Free - Posts Today: 0

Fairway Market is a food retailer offering customers a differentiated one-stop shopping
experience "Like No Other Market".  
Fairway has established itself as a leading food retailing destination in the 
Greater New York City metropolitan area, with stores that emphasize an extensive selection of fresh, natural and
organic products, prepared foods and hard-to-find specialty and gourmet offerings, along with a full assortment of
conventional groceries.  
Fairway is headquartered in New York, New York.
You can shop our products online at, or visit one of our 15 stores in New YorkNew Jersey and Connecticut



(646) 616-8103









Fairway Group Holdings Corp. Plan of Reorganization Confirmed

Fairway anticipated to emerge with approximately $50 million of cash

New Brooklyn store expected open in late 2016

NEW YORK, June 08, 2016 (GLOBE NEWSWIRE) -- Fairway Group Holdings Corp. (NASDAQ:FWM), the parent company of Fairway Market, the iconic New York food retailer that offers customers a differentiated one-stop shopping experience "Like No Other Market", today announced that the Plan of Reorganization (the "Plan") was unanimously accepted by 100% of voting secured lenders and confirmed by Bankruptcy Judge Michael E. Wiles.  Fairway is expected to emerge from bankruptcy during the week of June 20th, 2016 with approximately $50 million in cash, a substantial reduction of its debt by $140 million and a reduction of Fairway's annual debt service obligations by up to $8 million.   

"Thank you to all the customers who have continued to support Fairway.  Our stores are open and stronger than ever," said Jack Murphy, Chief Executive Officer.

In accordance with the Plan, all prepetition unsecured creditors, including suppliers, employees, unions and other trade creditors were not impaired and were and will continue to be paid in the ordinary course of business.  The senior secured lenders will exchange their loans for new common equity of Fairway and some reinstated debt.  All of Fairway's outstanding shares of common stock will be cancelled pursuant to the Plan with no distribution to the holders thereof.

Jack Murphy added, "We will emerge from bankruptcy with a stronger balance sheet, $50 million in cash and the backing and commitment from the senior lenders and new shareholders to re-invest in the future of Fairway.  We will continue to provide to our customers the best food experience in the greater New York area and we pride ourselves on continuously improving our product offering while maintaining the freshness and quality our loyal customers have come to expect."

In addition, Fairway is on target to open a new Fairway store in Georgetown, Brooklyn in late 2016.

Forward-Looking Statements
This press release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause the Company's business and results of operations to differ materially from those expressed or implied by such forward-looking statements.  Forward-looking statements can be identified by the use of words such as "will," "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "intends," "potential," "continue," or the negative of such terms, or other comparable terminology.

Risk factors that may affect the Company's results include, but are not limited to, those described under the heading "Item 1A.  Risk Factors" in the Company's most recent Annual Report on Form 10-K and under the heading "Item 1A. Risk Factors" in the Company's most recent Quarterly Report on Form 10-Q, as well as the following: the ability of the Company to continue as a going concern; the ability of the Company and its subsidiaries to prosecute, develop and consummate the Prepackaged Plan; the effects of the bankruptcy filing on Fairway and the interests of various creditors, equity holders and other constituents; Bankruptcy Court rulings in the chapter 11 cases and the outcome of the cases in general; the length of time Fairway may operate under the chapter 11 cases; risks associated with third-party motions in the chapter 11 cases, which may interfere with Fairway's ability to develop and consummate the Prepackaged Plan; the potential adverse effects of the chapter 11 proceedings on Fairway's liquidity or results of operations; the potential adverse effects of the chapter 11 proceedings on Fairway's relationships with suppliers, employees and customers; the ability to execute Fairway's business and restructuring plan; increased legal costs related to the bankruptcy filing and other litigation; and Fairway's ability to maintain contracts that are critical to its operation, to obtain and maintain normal terms with customers, suppliers and service providers and to retain key executives, managers and employees.

Any forward-looking statement made by the Company in this press release speaks only as of the date on which such forward-looking statement was made.  New risks and uncertainties arise from time to time, and the Company cannot predict these events or how they may affect the Company's business, financial condition or operations.  The Company undertakes no obligation to update or revise the forward-looking statements in this press release after the date hereof, except as may be required by law. 









Fairway Group Holdings Corp. (FWM), the supermarket chain focused on greater New York.

Fairway, which traces its roots to a produce stand founded in 1933 on New York's Upper West Side, sells grass-fed organic beef and locally produced cheese alongside name-brand products such as cereal and snacks.

The chain views itself as a rival of upscale and natural-foods-oriented retailers such as Whole Foods Market Inc. WFM and Trader Joe's, as well as more conventional supermarkets, according to regulatory filings.

The company appeals to investors because, unlike traditional supermarkets—which have generally struggled to compete on anything but price—niche chains like Whole Foods and Fresh Market Inc. TFM have gained business. Investors see these chains as more innovative, with more potential to expand.
#200   FWMHQ, BK PLAN effective. All shares cancelled. FINRA Renee 07/06/16 01:47:02 PM
#199   They already emerge.. Read yesterday filling. B0tt0M WaTcH3R 07/06/16 01:15:29 PM
#198   So are you saying that this Fairway Group DeafTrader2 07/06/16 01:13:37 PM
#197   I guess it will not going to be B0tt0M WaTcH3R 07/06/16 01:04:31 PM
#196   If that new shares stays at .0050 and DeafTrader2 07/06/16 12:45:41 PM
#195   Ahhhh.. That is only shares available new shares.... B0tt0M WaTcH3R 07/06/16 12:43:19 PM
#194   Yep, that's what I was told, thank you. FUBAR 07/06/16 12:41:14 PM
#193   Never buy new shares .. wait until after DeafTrader2 07/06/16 12:40:53 PM
#192   Shares have been canceled, MM's are gone from Pennyprof 07/06/16 12:39:18 PM
#191   Same 2 u B0tt0M WaTcH3R 07/06/16 12:01:13 PM
#190   Thanks for the info, GLTY FUBAR 07/06/16 12:00:58 PM
#189   Sorry for those who bought today.. This should B0tt0M WaTcH3R 07/06/16 12:00:21 PM
#188   Ah, thanks. Glad I was only watching. FUBAR 07/06/16 11:58:41 AM
#187   Nope.. All old shares cancelled... B0tt0M WaTcH3R 07/06/16 11:57:07 AM
#186   Looks to be halted now but not on FUBAR 07/06/16 11:51:02 AM
#185   Game over.. Waiting for new shares B0tt0M WaTcH3R 07/06/16 10:39:32 AM
#184   Creminelli Salami makinezmoney 07/06/16 10:16:39 AM
#183   Facebook post... Veroni Salami Sale makinezmoney 07/06/16 10:02:34 AM
#181   FWMHQ Is it safe to buy DeafTrader2 07/05/16 03:32:25 PM
#180   Good product !!! ;) Trendyfoods 07/05/16 03:06:17 PM
#179   Your right... Liquid1974 07/05/16 11:50:07 AM
#178   Fantastic Bonne-Maman Apricot JAM on sale makinezmoney 07/05/16 11:16:46 AM
#177   Amazon-Food-Delivery, SPROUTS or Whole-FOODS should buy makinezmoney 07/05/16 10:54:17 AM
#176   Applegate Hot Dogs makinezmoney 07/05/16 10:48:30 AM
#175   Website is still active....... buy some FRUIT makinezmoney 07/05/16 10:41:30 AM
#174   on watch IN The Mouth Of Madness 07/05/16 10:31:42 AM
#173   shes dead... sell if you can. bfsingle 07/05/16 09:47:34 AM
#172   8-k says shares are canceled, probably be halted Pennyprof 07/05/16 09:22:22 AM
#171   FWMHQ down 90% premarket, printing .006's Pennyprof 07/05/16 09:13:34 AM
#170   FWHMQ .07 looks like 4ema holding trend. Low PAC 06/28/16 11:46:09 PM
#169   stock needs that one day of a crazy bfsingle 06/23/16 09:18:28 AM
#168   Interesting action here. Still should end up larrybaz 06/22/16 08:39:55 AM
#167   P and D seems like to me. Volume GoldenMind 06/21/16 10:40:32 PM
#166   That's still the last public statement made from jackpotz 06/21/16 02:58:51 PM
#165   You were saying troll ? MikeBK205 06/21/16 02:14:10 PM
#164   this stock will hit everyone scans today...should of bfsingle 06/21/16 01:55:29 PM
#163   FWMHQ .07 +100% PAC 06/21/16 01:18:10 PM
#162   FWMHQ lil action PAC 06/21/16 09:42:12 AM
#161   From today's press release: larrybaz 06/08/16 12:03:22 PM
#160   Hope they work things out. I need my oxnous 05/20/16 09:30:59 PM
#159   Of course we will no one cares about MikeBK205 05/18/16 10:54:53 AM
#158   Who bought them? For how much? Will buxmaker 05/18/16 10:28:53 AM
#157   FWMHQ is bouncing up tomorrow, lot of investors samfr1 05/16/16 07:51:25 PM
#156   FWMHQ was acquired by billionare. BK might be hondaboost 05/16/16 11:44:27 AM
#155   Monday looks to be interesting $tock~$crooge!! 05/15/16 02:32:38 PM
#154   FWM changed to FWMHQ, bankruptcy. Delisted to the OTC.: Renee 05/13/16 05:20:44 PM
#153   FWMHQ Monday. davidsson10 05/13/16 10:51:12 AM
#152   FWM, you are going to ..... "REEEEST, IIIIIIIIN, PIIIIIIEEEEECE" MikeBK205 05/12/16 02:14:16 PM
#151   Stay away Latergater 05/11/16 04:11:39 PM
#150   "Big Money Mike" promoting FWM! ctrumabll 05/11/16 01:31:43 PM