Fairway Group Holdings Corp., along with some of its subsidiaries, will move to implement a financial restructuring, and have filed a "Joint Prepackaged Chapter 11 Plan of Reorganization," according to the statement and the Wall Street Journal.
Last month, Bloomberg News reported that the company had reached a tentative restructuring deal with creditors.
Fairway's 15 stores, which include seven in New York City, are expected to continue operations with "no interruptions to customer service throughout the process."
CEO Jack Murphy said in a statement that "implementing this Prepackaged Plan is the best opportunity for Fairway to restructure its balance sheet on an expedited basis, strengthen its operations, retain jobs and create long-term value, while continuing to provide customers with the best food experience in the greater New York area."
"Over 80 years ago, Fairway started as a fresh fruit and veggie stand at the corner of 74th & Broadway. It grew into the greatest food store in the country," he continued. "Nobody slices a fish or boils a bagel like us. Nobody."