Several reports have indicated that Fairway Market is looking to close all its stores or file for Chapter 7 as soon as this week. Fairway Markets has released a statement saying the reports are false, and it has “no intention to file for chapter 7 or liquidate all of its stores.”

The New York Post was the first news outlet to report the pending Chapter 7 filing, saying that the announcement could come as early as Wednesday. Fairway Markets responded to the report by saying, “ Such statements are categorically untrue and disappointing.”

However, the company did indicate that a news announcement is coming about a “value maximizing transaction.” There was no word of what the transaction would be or mean for Fairway Markets, but the company said it is actively engaging in a strategic process with the support of its lenders while its 14 stores remained open for business.

The New York Post indicated that Village Super Market is interested in buying some Fairway Market stores while holding on to the brand’s name. This is not the first report that the company was selling off stores, as Bloomberg reported the company was for sale back in September.

Fairway Markets filed for Chapter 11 in 2016 with $300 million in debt, Retail Dive reported.

Fairway Markets
Fairway Markets denies claims that it is filing for Chapter 7 bankruptcy. View of produce outside the Fairway market (2127 Broadway, between West 74th and 75th streets), Manhattan's Upper West Side neighborhood, New York, New York, March 30, 2013. Getty Images/Oliver Morris
RELATED STORIES