Fairway Market denies it has unleashed its swan song, disputing reports that it filed for bankruptcy a second time and was preparing to close all of its stores, the popular tri-state grocery chain said Wednesday.
The New York Post had said the chain was filing for bankruptcy, but Fairway Market released a statement later Wednesday saying it "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," the statement continued. "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."
The chain filed for Chapter 11 bankruptcy in 2016 but kept all of its stores while the owners reorganized their finances, the Post reported.
Its flagship store on the Upper West Side has been a staple since it started as a small fruit and vegetable stand in the 1930s. The company was named Fairway in 1954 at the suggestion of its founder's daughter-in-law, according to the company's website.