Furniture Today / Update Fortunoff Liquidation Starts Today

February 26, 2009

SUMMARY

Fortunoff will begin going-out-of-business sales at all of its 20 stores today. A joint venture group of liquidators handling the sale includes Hudson Capital Partners. The liquidators said they paid 88.8% of the cost value of the inventory, estimated at about $96 million. The sales will run until the entire inventory is sold, according to a spokesperson for the deal.

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