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Fortunoff auction postponed to Feb. 23

Bankrupt retailer quickly liquidating assets

Larry Thomas -- Furniture Today, February 18, 2009

NEW YORK — A U.S. Bankruptcy Court judge has postponed until next week an auction of substantially all the assets of home furnishings and jewelry retailer Fortunoff.

The auction, which had been scheduled for Thursday, is now set for Feb. 23. A hearing to approve the sale is scheduled the following day.

Following a dismal holiday selling season, Fortunoff's filed for Chapter 11 bankruptcy protection on Feb. 5 and has moved quickly to liquidate its assets. A so-called "stalking horse" bidder hasn't been named in documents filed with the court.

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