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 / Updated  / Source: Reuters
By Reuters

Grocery chain operator Fairway, which has lost money in every quarter since it went public in 2013, filed for Chapter 11 bankruptcy on Monday.

Image: Corn and other produce at the Fairway supermarket in New York
Corn and other produce at the Fairway supermarket in New York on July 20, 2011Richard Levine / Corbis via Getty Images

The company operates about 15 stores in the New York City area, and said it aimed to reduce debt by about $140 million through the restructuring and retain jobs.

Bloomberg reported last month that Fairway was likely to file for bankruptcy after reaching a deal with its creditors.

Fairway listed assets in the range of $100 million to $500 million, and liabilities of $100 million to $500 million, according to a court filing.

Fairway had said in February a failure to raise capital may prompt its auditor to issue a "going concern" warning, which would constitute an event of default under a senior credit facility where it had $266.8 million outstanding as of December 27.