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Chapter 7 Bankruptcy

Business
UPDATE: Fairway Market's NJ Stores Could Stay Open After All UPDATE: Fairway Market's NJ Stores Could Stay Open After All
Update: Fairway Market's NJ Stores Could Stay Open After All Fairway Market stores in New Jersey could stay open, after all. Although the New York Post on Wednesday reported the New York City grocer planned on filing Chapter 7 bankruptcy and closing all 14 of its locations, Fairway apparently has new plans in place. Fairway -- which has stores in Paramus and Woodland Park -- filed for Chapter 11 bankruptcy Thursday, after denying The Post's report of filing for Chapter 7 Wednesday. The New York City grocer reached a deal to sell its distribution center and five NYC stores to Village Super Market (which operates more than two dozen ShopRite stores) …

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by Cecilia Levine
Police & Fire
Bayonne Businessman Admits To Multimillion Dollar Fraud, Tax Evasion Bayonne Businessman Admits To Multimillion Dollar Fraud, Tax Evasion
Bayonne Businessman Admits To Multimillion Dollar Fraud, Tax Evasion A Bayonne man who used check-cashing businesses to hide hundreds of thousands in income he earned from his construction companies pleaded guilty to tax evasion last week, the Newark office of the IRS said in a statement. Patrick Franconeri, 57, owned several firms based in New Jersey but failed to report any income from them in 2014. He admitted in court that he actually made more than $1.3 million that year, income for which he owes $558,439 in taxes, the IRS said. Franconeri also defrauded the bankruptcy courts, authorities said. In 2010, he filed for relief under Chapter 7 but failed to…

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by Paul Milo