Finlay Offers Itself for Sale

Continuing to express “significant doubt” about its ability to carry on, Finlay Enterprises is launching a formal process to let parties bid on its assets. A statement noted that Finlay has previously received unsolicited interest from a number of investors and now wants to explore any offers. The move came shortly before Finlay found itself in default of another credit agreement, when it missed a semiannual interest payment, due July 1. This constitutes a default under the indenture governing the senior notes and its revolving credit agreement, it said.

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