New York-based grocery chain Fairway Market said Wednesday morning it has no plans to file for Chapter 7 bankruptcy, following a report that said it was preparing to do so.
“Despite reports, Fairway Market has no intention to file for chapter 7 or liquidate all of its stores,” a spokesman told CNBC in an emailed statement.
“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.”