Fairway Market denies going-out-of-business report

Fairway Market says it has "no intention" of closing down its stores, dismissing earlier reports that the longtime New York City grocer was getting ready to declare bankruptcy.

The company “has no intention to file for Chapter 7 or liquidate all of its stores,” executives said in a Twitter post. “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 company's announcement came as a relief to some Twitter users who said they were "already mourning the closures." Reports earlier Wednesday had said the grocer would shutter all of its stores, including its flagship at Broadway and West 74th Street in New York City and that the liquidation would be announced as soon as Wednesday.

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The New York Post reported at the beginning of January that Fairway was looking at bankruptcy protection.

The supermarket chain has been down a similar path before. In 2016, Fairway Group Holdings, the parent company of the U.S. grocery chain, sought Chapter 11 bankruptcy protection, Reuters reported.

At that time, it listed assets of $100 million to $500 million and liabilities in the same range.

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