New York City Grocery Chain Fairway Market Files for Chapter 11 Bankruptcy

Five stores and its distribution center will be sold for about $70 million

the frontage of a fairway market
Fairway Market was founded in 1933. In 1995, the company began growing and expanding into new locations. Getty Images

New York’s social media sphere was in a disheartened tizzy Wednesday over speculation that Fairway Market, a beloved grocery chain that has been feeding city residents since the 1930s, was filing for Chapter 7 bankruptcy.

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@monicroqueta Mónica is a breaking news reporter at Adweek.