Fortunoff Closes Manhattan Store, Liquidation Looms

Is the final chapter in Fortunoff’s history about to be written? The talk that the retailer is on the block again was somewhat off. Fortunoff Fine Jewelry & Silverware LLC owner NRDC Equity Partners LLC is reportedly in talks with companies to liquidate most of its merchandise, according to a Bloomberg report on Tuesday.

NRDC, which refused to comment on the report, is reportedly in liquidation talks with a few companies, according to Bloomberg.

A year after it filed for bankruptcy protection - and subsequently purchased by NRDC - Fortunoff may file for bankruptcy protection once again in the near future. A source quoted by the New York Post said Fortunoff will likely go bankrupt “within the next couple of weeks,” if NRDC does not find a buyer.

In the meantime, the jewelry retailer’s store at 57th Street and Fifth Avenue in New York was closed as planned after its lease expired.

NRDC planned to setup Fortunoff stores in another retail holding Lord & Taylor, replacing the Finlay store-in-store jewelry counters. It is not clear why, but that plan did not materialize.