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Lord & Taylor parent to acquire Fortunoff

Fortunoff files for Chapter 11 protection

By Furniture Today Staff -- Furniture Today, February 4, 2008

UNIONDALE, N.Y. — Home furnishings and jewelry specialty chain Fortunoff filed for Chapter 11 bankruptcy protection U.S. Bankruptcy Court Southern District of New York in Manhattan today, and the parent company of retailer Lord & Taylor said it agreed to acquire the troubled retailer.

The company lists assets and liabilities of more than $100 million each.

The largest unsecured creditor is outdoor furnishings specialist Agio, which is owed $5.7 million. Among furniture companies, creditors include Stein World, the seventh largest creditor, which is owed $832,870.

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