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Will Fortunoff be the next chain to bite the dust? |
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| Feb 04, 2009 06:45 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Products and services, Law, Recession Fortunoff may be the next retail chain headed for the scrap heap.According to Bloomberg News, this once-venerable company is headed for Chapter 11 bankruptcy and a possible liquidation. The demise of Fortunoff comes a year after Lord & Taylor parent NRDC purchased the company out of bankruptcy. At the time, NRDC thought Fortunoff was the best thing since sliced bread. Lord & Taylor even made available a $10 million line of credit to the chain. But now, the chain's lease at its flagship store has expired and the store, located on Fifth Avenue near Bergdorf Goodman, Prada and Tiffany & Co. (NYSE:TIF) is vacant. Continue reading Will Fortunoff be the next chain to bite the dust? Will Fortunoff be the next chain to bite the dust? originally appeared on BloggingStocks on Wed, 04 Feb 2009 13:45:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments
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