Jeweler Finlay Seeks Ch. 11 To Sell Assets

Law360, New York (August 6, 2009, 1:47 PM EDT) -- Facing tough market conditions, jewelry retailer Finlay Enterprises Inc. has filed for bankruptcy protection as part of a plan to sell off its remaining assets for approximately $116 million to Gordon Brothers Retail Partners LLC.

The company, which filed for Chapter 11 protection Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, said it was forced to file because of the recession and reduced access to major department stores.

Through its wholly owned subsidiary, Finlay Fine Jewelry Corp., the company operates stores...
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