Fortunoff misfortune

| | Comments (0) | Retweet

Venerable retailer Fortunoff has closed its flagship store and is discussing liquidation and bankruptcy options. The company, which sells jewelry, silverware and home goods products, has been in business since 1922. Fortunoff entered bankruptcy a year ago and was purchased by the same parent company as Lord & Taylor.

Fortunoff moved its flagship Manhattan store to 57th Street just off Fifth Avenue in autumn 2007, vacating its old Fifth Avenue location at its landlord's request. The lease at West 57th expired last month, suggesting the move was temporary in nature and the closing expected internally. The company's website notes the closed location without further comment. Another 20 stores are reportedly still open for business.

Update: Fortunoff filed for Chapter 11 bankruptcy as expected Thursday Feb. 5. The company hopes to be acquired; if not, the chain will close rather than reorganize.

0 TrackBacks

Listed below are links to blogs that reference this entry: Fortunoff misfortune.

TrackBack URL for this entry: http://www.netwert.com/mt/mt-tb.cgi/557

Leave a comment

Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

About this Entry

This page contains a single entry by David Wertheimer published on February 3, 2009 5:27 PM.

Old and local stores was the previous entry in this blog.

Snyders Drug is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.