Fairway Market denies bankruptcy reports

NEW YORK CITY (WABC) -- Fairway Market is denying reports that it is planning to file for Chapter 7 bankruptcy protection or liquidate all of its stores.

"Such statements are categorically untrue and disappointing," the grocery store chain wrote in a statement.

Fairway said all 14 stores remain open for business.

The company added that it "has been engaged in a strategic process and expects to soon announce a value maximizing transaction that will provide for the ongoing operation of stores."

Fairway Market has been a fixture in New York City since the 1930s.

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