Fortunoff GOB sales start tomorrow
February 25, 2009,
Westbury, N.Y. – After 87 years in business in the Northeast U.S., fine jewelry, housewares and home furnishings retailer Fortunoff will see its inventory liquidated under a court-ordered bankruptcy sale starting tomorrow, Feb. 26.
The inventory is valued at about $212 million, said Fortunoff Holdings, LLC, the retailer’s parent firm controlled by NRDC Equity Partners, which bought the chain out of a pre-packaged bankruptcy in early 2008. Fixtures will also be sold.
Yesterday the U.S. Bankruptcy Court for the Southern District of New York approved the sale of Fortunoff assets to a joint venture comprising Great American Group, LLC; SB Capital Group, LLC; Tiger Capital Group, LLC; and Hudson Capital Partners, LLC; along with jewelry liquidators Wilkerson and Associates and The Gordon Co.