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Owner Of Westport-Based Fairway Market Faces Financial Challenges

Fairway Markets has a location in Stamford.
Fairway Markets has a location in Stamford. Photo Credit: yelp.com

WESTPORT, Conn. -- Fairway Market, whose owner is based in Westport and that also has a store in Stamford, is facing financial challenges, according to a report on nytimes.com.

An aggressive plan by owner Sterling Investment Partners in Westport to open 300 new stores nationwide has caused a cash shortage and a downgrade of its debt rating and a plummeting stock price, nytimes.com reported.

Competition by other high-end grocers, like Whole Foods, also has been a challenge for Fairway, according to nytimes.com.

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