Fairway Market Says It Is Here To Stay, Despite Reports To The Contrary
NEW YORK (CBSNewYork) - Food shoppers in New York can stop worrying, for now.
Despite earlier newspaper reports, Fairway says it's here to stay.
In a statement, the grocery store chain said it has no intention of filing for Chapter 7 bankruptcy, and that all 14 stores will remain open for business.
The store, which started as a fruit and veggie stand on the Upper West Side and has become a New York institution, filed for bankruptcy protection in 2016 after reaching a restructuring deal with creditors.
"Despite reports, Fairway Market has no intention to file for chapter 7 or liquidate all of its stores. Such statements are categorically untrue and disappointing. Fairway has been engaged in a strategic process and expects to soon announce a value maximizing transaction that will provide for the ongoing operations of stores. Our lenders remain extremely supportive of our efforts. All 14 stores remain open for business, offering a complete range of high quality, specialty food products, and we look forward to seeing our customers and employees," Fairway Market said in a statement.
