Fortunoff Fine Jewelry and Silverware LLC could be put on the auction block less than one year after it was acquired out of bankruptcy. Women's Wear Daily reported Wednesday that NRDC Equity Partners has decided to sell
the business and "is focusing talks on one potential buyer."
Additionally, Women's Wear Daily said that "a
deal could be announced within a couple of weeks, but there is no
guarantee."
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NRDC is hoping a deal happens quickly as it already suffered a bankruptcy last year as one of the investors in Linen's 'n Things Inc. The Deal reported in March that an affiliate of NRDC Equity Partners paid $80 million for Fortunoff, but now there is some question as to whether that bargain basement price is possible to get in today's dismal market.
The downturn in the economy has hit retailers particularly hard as bankruptcy filings grow. Some
other notable bankrupt names include Circuit City Holdings Inc., Steve & Barry's LLC and KB Toys Inc. -
Gerald Magpily See Newsday articleSee Dealwatch: Retailers and bankruptcySee Women's Wear Daily article
