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"Big Money Mike" promoting FWM!
https://twitter.com/BIGMONEYMIKE6/status/730441110514851842
What more need I say?
That was fun played it safe Love this play!
So FWM is going to the OTC which is a given due to the low trading price. But Reuters report two days ago still has target price at $1.00pps. Such a odd trade...Earnings comes out in about 2 weeks.
Does any one thinks a significant boost from the -1.1 would actually give way to a quick bounce up to $1?
Crooked shorts got squeezed, tiny float and they have a lot to cover still.
Eventually common will be wiped out. This went from $28.00 all the way down to .11 AHAHAHAHAHAHAHA
Run BK Run!!!ShortTails Coverrring!!!
Only got 7500 out of 250000. Dammit
Got a little filled but not all I wanted.
Wish more had filled for me at support yesterday!!
Did u jump
In?
Just did and waiting for a little more
WE..DID..OVER 500% ON FWM
Night join you here Monday at support.
If you strip at the supermarket it may. Seriously I hope it does bc I got filled horribly. Gonna take a chance here
Any chance this goes back up monday?
No down we go looks like ouch
Shorters are losing ground and leaving are you boys ready to quit selling into it so we can go green?
She's about to go green Clay, kiss it goodbye and move on
Stop stacking the ask and we fly!
BULL$ TAKE OVER... UP WEEEE GO
I will make this my favorite supermarket if the son of a bitch will fly NORTHWARD
This is my favorite supermarket they have everything, including a whole separate part of the store for Kosher.
Yeah....Traded $5M today........et z
* * $FWM Video Chart 05-05-16 * *
Link to Video - click here to watch the technical chart video
What's the float here? Latest quarterly has it at a puny 150k which is way too low. Must be reading something wrong.
God damn I should of bought all those shares at .03
Thought they'd go bankrupt even tho I love their stores
What does that have to do with your belief that they are canceling All outstanding shares? They're not. He made the statement yesterday saying it would keep going down and was going to go to subzero. I'm looking at the share price right now. Three analysts have buy ratings for this stock with a mm average price target of $1.00....
Interesting volume action and bk news release
Taken directly from the 8k yesterday:
Standard statement means nothing.. So much can happen till BK done. Just a shorty desperate for shares to cover with
The guy is wrong. There was a statement about canceling outstanding shares, but it was in relation to unsecured debt. They are not canceling all outstanding shares.
"Under the restructuring plan, Fairway's trade creditors would be paid in full, but existing equity, including the stake held by private-equity sponsor Sterling Investment Partners, would be wiped out." - from the PR.
there was a statement about cancelling outstanding shares, but it is in relation to unsecured debt...not all outstanding shares
Dime Good 4 u ^$ Great Bk Trader.
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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.
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