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Fairway Locations To Remain Open Despite Bankruptcy Filing

NEW YORK (CBSNewYork) -- Fairway Market locations will be operating as usual today, despite financial problems.

The gourmet grocer filed for bankruptcy protection this week, after reaching a restructuring deal with creditors, CBS2 reported.

According to a statement released by Fairway, the company plans to restructure the business in accordance to a Chapter 11 reorganization policy.

The company intends to keep business as usual throughout the process and plans to keep their 15 Tri-State locations open.

The company was reassuring devoted shoppers earlier this week.

Fairway -- once one of the leading gourmet grocers in New York City -- has been facing competition from other specialty stores in recent years, as big name stores like Whole Foods and Trader Joe's grew in popularity.

 

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