Fortunoff Flounders Again, May Fold
Fortunoff filed for bankruptcy last February which is when NRDC picked them up and promised to open new stores and bring Fortunoff jewelry into Lord & Taylor. NRDC owns Lord & Taylor as well as other retailers including Hudson's Bay Co. Finding someone to buy Fortunoff seems an iffy proposition at best currently, especially considering the fact that jewelry, which is Fortunoff's bread and butter, isn't selling well right now. A more likely scenario is, as Bloomberg reports, a liquidation of merchandise. Yesterday afternoon, Fortunoff spokeswoman Arlene Putterman confirmed to National Jeweler that the company was looking at filing Chapter 11 again.