New York-based grocery chain Fairway Market is reportedly set to file for bankruptcy, with plans to shutter all of its stores.

The grocer is planning to file for Chapter 7 bankruptcy, or a complete liquidation, The New York Post reported on Tuesday evening.

A representative from Fairway wasn’t immediately available to respond to CNBC’s request for comment.

In 2016, Fairway filed for Chapter 11 bankruptcy protection, but managed to emerge after restructuring its business that same year with new management. Only one store was shuttered.

The Post said that Fairway, with its current plans, will close all 14 of its locations across the New York area, including its flagship shop on the Upper West Side at Broadway and West 74th Street.

A Chapter 7 filing and liquidation announcement could come as soon as Wednesday, according to the report.

Read the full story in the New York Post.  



READ SOURCE

READ  To check dust due to continuous construction work, Noida gets road project deadline

WHAT YOUR THOUGHTS

Please enter your comment!
Please enter your name here