At its height, Fay's Drugs operated its core business, along with Wheels Discount Auto and The Paper Cutter Books and Office and Party Supply.

Fay's enjoyed #1 market share in Buffalo, Rochester, Syracuse and Albany.

The company closed nine under-performing stores in its Paper Cutter subsidiary in April 1993.

[3] In 1996, the company sold its remaining 29 Paper Cutter stores to Long Island-based Party Experience Inc., a chain of party- and holiday-oriented supply stores,[4] which converted the Paper Cutter stores to the Party Experience format the following year.

[10] Many of the original Fay's Drugs locations that have not been closed in favor of stand-alone Eckerd stores (many now Rite Aid and Walgreens locations) still feature the familiar Fay's aisle and pharmacy formats that served as models for drug chains nationwide.