Considering the growing competition that Fairway faces, a Chapter 11 filing is inevitable.
Fairway opened a store in Kips Bay -- 2nd Avenue and 30th St -- two years ago. Good store. But a couple of days ago, Trader Joe's announced its plans to open a new store on 3rd Avenue and 31st St. The new Trader Joe's will take a big bite out of the nearby Fairway.