Fairway Market, together with its debtor affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York (Case No. 20-10161), announced that Bogopa Service Corp. was declared the winning bidder for its Red Hook and Douglaston stores at a supplemental auction conducted July 27.
“Knowing that Food Bazaar will continue to provide the communities we currently serve with the highest quality and variety of perishables, groceries and other unique food offerings is extremely gratifying,” said Fairway Market CEO Abel Porter. “We celebrate their commitment to offer jobs to our employees at these locations and welcome them to the Food Bazaar family.”
Brooklyn-based Bogopa has 26 Food Bazaar grocery stores in New York City, Westchester County, Long Island, New Jersey and Connecticut. Bogopa’s first New York Food Bazaar supermarket was opened in 1988. Company founder Francis An was born in Korea, raised in Argentina and then moved to New York. Upon his arrival, he was eager to introduce New York City shoppers to international ingredients. The name Bogopa was chosen as the corporate name because it means “Yearning for You” in Korean, a phrase that captures the company’s commitment to serving its customers’ needs.
Fairway Market continues its efforts on behalf of the communities it serves and its store employees to deliver a positive outcome for the Stamford, Connecticut, and Westbury, New York, locations.
Fairway Market’s legal counsel is Weil, Gotshal & Manges LLP; its M&A investment banker is PJ Solomon; and its financial advisor is Mackinac Partners. The ad hoc group of senior lenders is represented by King & Spalding LLP.
For more information about Fairway Market’s Court-supervised sale process, please visit: omniagentsolutions.com/fairway.