Fairway Market, and all its locations across the New York metro area, will remain open for business, according to the company.
On Tuesday, Jan. 22, The New York Post reported that the grocery chain was liquidating all of its stores and filing for Chapter 7 bankruptcy; however, according to Fairway, this couldn’t be further from the truth.
“Despite reports, Fairway Market has no intention to file for Chapter 7 or liquidate all of its stores,” a spokesperson for the company said. “Such statements are categorically untrue and disappointing.”
According to the Post, Fairway was looking to find a buyer for its 14 locations this month. But after failing to do so, the market was moving to liquidate its stores.
But Fairway says that it may have found a buyer.
“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 spokesperson said. “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, founded in 1933, filed for Chapter 11 bankruptcy in early 2016 but emerged later in the year with new owners.
The grocery store has one location in Queens. The Douglaston market has been open since 2011.