Over 154 Years of Service to the Furniture Industry
 Furniture World Logo

Fortunoff Files Chapter 11 Again

Furniture World Magazine

on

Fortunoff announced that it has filed for Chapter 11 Bankruptcy Protection.

Charles Chinni, the President & CEO of Fortunoff said, “The jewelry and home goods businesses have been hit particularly hard by the economic downturn. However, we are actively seeking a buyer for the business, and we will continue to do so in the Chapter 11 process.”

Founded in 1922, Fortunoff’s headquarters are located in Westbury, Long Island. The company comprises 3 full-line stores and 16 regional outdoor furniture stores and a website, fortunoff.com.

The NY Times reported that," In court filings, Fortunoff indicated that it held assets of between $100 million and $500 million and debt within that range as well. Its largest creditor is listed as the Hanamint Corporation, holding trade debt of nearly $1.6 million." See the NY Times article and a copy of Fortunoff's Bankruptcy Petition at http://bit.ly/U0F2.