Report: Fortunoff Closes Manhattan Store, May Liquidate

Fortunoff closed its flagship Manhattan store and is in talks with companies to liquidate most of its merchandise, Bloomberg News reports.

The jewelry-store chain, may file for bankruptcy protection soon, said the people with knowledge of the matter who spoke with the news service organization. Bloomberg said in its report that these persons declined to be identified because the discussions are private.

Update: Arlene Putterman, a spokeswoman for Fortunoff told JCK Tuesday that she has no information about liquidators but that there are talks in regards to potential buyers.

“(I) haven’t heard anything about liquidators but I do know that potential buyers are in negotiations which is positive,” she said. “Also, we had previously planned to close our 57th Street store in January before all of this happened.”

The lease on the company’s store at 57th Street and Fifth Avenue expired Jan. 31, the said David Mark at Kasowitz Benson Torres & Friedman LLP, a law firm representing the landlord, Bloomber reports.

Liquidation would come one year after Fortunoff last sought bankruptcy protection and was purchased by NRDC, owner of the Lord & Taylor department-store chain.