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Fortunoff Liquidation Starts Thursday

By Clint Engel Â— Furniture Today -- Gifts and Dec, 2/25/2009 12:49:00 PM

Westbury, NY — Fortunoff, the retail chain that filed for Chapter 11 bankruptcy protection early this month, will begin going-out-of-business sales at all of its 20 stores Thursday. The U.S. Bankruptcy Court for the Southern District of New York ordered the liquidation of the 87-year-old retailer's approximately $212 million in inventory.

A joint venture group of liquidators handling the sale includes Great American Group, SB Capital Group, Tiger Capital Group and Hudson Capital Partners as well as jewelry liquidators Wilkerson and Associates and The Gordon Co.

The retailer of jewelry, housewares and home furnishings is owned by NRDC Equity Partners, which bought the chain out of an earlier bankruptcy in March 2008. The retailer filed again on Feb. 5.

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Farewell to a once great retail operation. Unfortunately the recent
management was incompetent with little retail savvy. The merchandise
managers and buyers were top notch, dedicated and talented. The store
left a void that will never be filled.

George Gravis - 2009-02-25 18:21:00 EST

» More

Gracious Home Files for Bankruptcy

Aug 17, 2010

Bankrupt Fortunoff Seeks Immediate Auction

Feb 10, 2009

Fortunoff Goes Chapter 11

Feb 5, 2009

National Wholesale Liquidators files Chapter 11

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