Fortunoff Files For Bankruptcy (Again)
Regional jeweler Fortunoff has thrown in the towel and filed for bankruptcy today. The retailer cited terrible holiday sales, a "severe liquidity crisis" in January, and the cost of expanding its jewelry line into Lord & Taylor stores as reasons. Fortunoff was brought out of an earlier bankruptcy about a year ago by a private equity firm, but it didn't take.
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They're just off their fortune, things will turn around.
It may be worth noting that in the NY area, Fortunoff is also a high-end department store, not just a jeweler. Maybe if they scaled back to just being jewelers and let the Macy's and Lord and Taylor's run the dept. store business, they could stay afloat by embedding their wares in said department stores.
Cash4Gold wiseacre comments to commence in 3...2...1...
I hope their liquidation sale isnt done by the same folks that cleared out Circuit City... I cant take any more of those "these liquidation sales suck!" posts.
As long as they are around until May. I have my wedding registry there. Does this affect the credit card? i have a fortune off visa.
so more more $1500 stainless steel BBQ grills?
Fortunoff is more than just a jeweler around here (NY/NJ/CT) They where a department store specializing in upper tier home items, china and crystal.
My wife is going to flip... our wedding registry was with them and we still have China that we need to buy that we will now have to find someplace else.
Funny enough I was dissuaded from setting up our wedding registry at Bed Bath Beyond (who also does China and crystal and had both of our sets) by her mother who though Fortunoff was the better store.
OH WELL.
I find I can't get torn up about this. Sorry.
Oh God, the stories I could tell. Back when I was in the silver business Fortunoff was one of our purchasers. They didn't buy flatware from us very often, IIRC. I actually remember Replacements Ltd. being bigger jerks.
Sadly, the supplier I used to work for is now gone as the owner died. I have no idea where (besides eBay I suppose) that I will buy my sterling silver flatware set.
DeBeers Bailout?