Fortunoff Backslides Into Ch. 11

Law360, New York (February 5, 2009, 12:00 AM EST) -- Five months after a private equity firm bought it out of bankruptcy, Fortunoff Holdings LLC has limped back into Chapter 11 in hopes of wooing a buyer and staving off liquidation.

On Wednesday, Fortunoff Holdings LLC filed its Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of New York. The filing occurred 366 days after the retailing chain first sought bankruptcy protection, which Fortunoff exited after NRDC Equity Partners acquired the Fortunoff Co. for $110 million.

After a dismal holiday season, Fortunoff...
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