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Fortunoff's Future To Be Decided.(Fortunoff Fine Jewelry and Silverware Inc.)(Brief article)

WWD

Byline: Vicki M. Young

Fortunoff's Future to Be Decided

A court hearing in manhattan bankruptcy court today will officially determine Fortunoff's fate, but already the signs suggest a Chapter 11 liquidation.

A court filing last week indicates Fortunoff has inked a stalking-horse agreement with Gordon Brothers Retail Partners and Hilco Merchant Resources to conduct going-out-of-business sales at all stores. A second group of liquidators Great American Group, Hudson Capital, SB Capital and Tiger Capital was said to have submitted a competing offer to run GOB sales. An auction was being held Monday night.

Unless a buyer willing to purchase the …

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