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Reuters reports that troubled Fairway Group Holdings "has reached a tentative deal with creditors to restructure its debt in bankruptcy ... The deal is likely to put the company into Chapter 11 proceedings by the end of May."

According to the story, "Lenders, led by Blackstone Group LP's credit arm GSO Capital Partners, would provide the company with a loan enabling it to continue operations while still in court, the report said. Specific terms of the deal, including the size of the financing and whether store lease contracts for underperforming stores will be kept, are still under discussion."

Reuters notes that Fairway has lost money in every quarter since it went public in 2013.
KC's View:
What a nightmare. Fairway has gone from being a family-owned, respected food purveyor with a long and distinguished history to an entity in which new management and ownership have seemed utterly tone deaf about how to run a compelling and differentiated food store.

They ought to just sell the whole damned thing to Kroger and be done with it.