The news of Fairway Market’s second foray into bankruptcy, this time with the threat that stores could be liquidated to pay off the unsustainable debt hanging over the grocery chain, dismayed its legions of loyal Manhattan customers. Fairway’s New York City stores draw an eclectic crowd of shoppers: local residents, professors and students at schools from the City University of New York to Columbia University, and others seeking its fresh-baked breads, unusual cheeses, and wide range of international foods. Upscale and idiosyncratic, with its humble roots still evident, Fairway is...…The news of Fairway Market’s second foray into bankruptcy, this time with the threat that stores could be liquidated to pay off the unsustainable debt hanging over the grocery chain, dismayed its legions of loyal Manhattan customers. Fairway’s New York City stores draw an eclectic crowd of shoppers: local residents, professors and students at schools from the City University of New York to Columbia University, and others seeking its fresh-baked breads, unusual cheeses, and wide range of international foods. Upscale and idiosyncratic, with its humble roots still evident, Fairway is...WW…

This article appears in the Fall 2018 issue of The American Prospect magazine. . ince 2015 seven major grocery chains, employing more than 125,000 workers, have filed for bankruptcy. The media has blamed “disruptors”—low-cost competitors like Walmart and high-end markets like Whole Foods, now owned by Amazon. But the real disruptors in this industry are the private equity owners who were behind all seven bankruptcies. They have extracted millions from grocery stores in the last five years—funds that could have been used to upgrade stores, enhance products and services, and invest in...…This article appears in the Fall 2018 issue of The American Prospect magazine. . ince 2015 seven major grocery chains, employing more than 125,000 workers, have filed for bankruptcy. The media has blamed “disruptors”—low-cost competitors like Walmart and high-end markets like Whole Foods, now owned by Amazon. But the real disruptors in this industry are the private equity owners who were behind all seven bankruptcies. They have extracted millions from grocery stores in the last five years—funds that could have been used to upgrade stores, enhance products and services, and invest in...WW…