fortunoff
© 2018 fortunoff fine jewelry. all rights reserved. fortunoff fine jewelry is a registered trademark licensed from fortunoff brands, llc. fortunoff fine jewelry is not affiliated with any other fortunoff retail entity .
fortunoff will introduce fortunoff jewelry stores and fortunoff home departments both within the bay department stores as well as freestanding retail operations .
copyright © 2018 fortunoff brands. fortunoff retail licensees are not affiliated with each other .
© 2018 fortunoff backyard store. fortunoff backyard store is a registered trademark and is being used under a license from fortunoff brands llc .
max and clara fortunoff opened the original fortunoff in 1922 on brooklyn' s livonia avenue .
in addition to his wife, mr. fortunoff is survived by four daughters, esther fortunoff - greene, of old westbury; ruth fortunoff - cooper, of manhattan; andrea fortunoff of long island; and rhonda fortunoff, of eugene, ore. ,; two sons, david fortunoff, of manhattan, and louis fortunoff, of brookville, n. y. ; and two grandchildren .
dowling college - history... a college committee, led by alan fortunoff, dowling trustee and son of fortunoff founder max fortunoff, guided the restoration of the ornate woodwork... the mansion was renamed to honor max and clara fortunoff, and is now known as fortunoff hall ...
and it does so under the legendary fortunoff name, which the founding fortunoff and mayrock families bought back in auction last year .
fortunoff brands purchased all of the intellectual property of fortunoff, including the brand name and related trademarks, customer lists, domain names, and all copyrighted material. it is owned by the fortunoff and mayrock families, who owned and operated fortunoff for four generations .
another retail source, who asked to remain anonymous because he has close ties to fortunoff, said
things changed when alan died ,
referring to alan fortunoff, the son of founder max fortunoff, who ran the company for decades. alan fortunoff died in 2000 .
white plains, new york - history - modern history... note as of july 20, 2009, the fortunoff and mayrock families re - acquired the fortunoff brand and intellectual property all fortunoff stores are currently closed ...
we believe fortunoff has the opportunity to be a national chain ,
baker said. baker said fortunoff' s sales could double in years to come .
jewelry and home furnishings retailer fortunoff filed for chapter 11 bankruptcy earlier this month .
merkur said the grill maker also shared fortunoff' s focus on high - level customer service and had a relationship with fortunoff that went back about two decades .
fortunoff was a new york - based retailer of home, jewelry and furniture stores founded in 1922 by max and clara fortunoff. the original fortunoff store was on livonia avenue in brooklyn, new york. the chain' s flagship store was in westbury, long island; the store opened in 1964 and anchored the mall at the source, which was built around the fortunoff store, from 1997 until fortunoff' s closing in 2009 .
fortunoff, l & t owner acquires hudson' s bay co. | home textiles today
seven companies await final court approval for gob sales liquidating fortunoff' s stores and inventory .
helene fortunoff, who raised six children, was considered a pioneer in jewelry in the 1960s and on the cutting edge for women in general, said a source close to the fortunoff family .
fortunoff now does business as an online jewelry retailer, as well as operating its backyard stores .
fortunoff said that all of its stores and its corporate headquarters will remain open during the bankruptcy process .
manuscripts, clippings and other items related to individuals who have given testimony to the fortunoff video archive .
james b. jacobs - background... with the support and encouragement of nyu alumnus, alan fortunoff, jacobs launched the monthly fortunoff criminal justice colloquium in 1983... fifteen years later, when fortunoff died, the distinguished criminal defense lawyer, jack hoffinger, became the colloquium’s benefactor ...
four leaf designs is a new partnership between esther fortunoff and david fortunoff, and lester friedlander and shaun apgar, the principals of clover ii, a jewelry wholesaler and the owners of robert lee morris inc .
fortunoff - 2010 relaunch... llc allowing furniture concepts to sell fortunoff - branded outdoor furniture... as part of this, the new owners of fortunoff are reopening the chain' s former backyard store unit, with six locations to open in february 2010... fortunoff said that most of the stores will be located at or near former locations, including in the mall at the source ...
fortunoff brands llc, a holding company that purchased in july 2009 all of fortunoff’s intellectual property, reached a licensing agreement with four leaf designs, for fine jewelry products in the u. s. and online .
in addition to the merchandise liquidation of fortunoff, all store fixtures throughout the chain will also be sold .
fortunoff said its statement that lord & taylor has made available a $ 10 million letter of credit to help fortunoff continue to purchase inventory. additionally, fortunoff said, some of its lenders have agreed to provide the company with debtor - in - possession financing that will be used to run the business during the bankruptcy process .
the winning liquidators guaranteed fortunoff would receive 88. 8 percent of the cost value of the merchandise they sell, while lawyers for fortunoff said in court that the other bid had only guaranteed 77 percent of the value .
fortunoff has been operating under chapter 11 of the bankruptcy code since feb. 5. fortunoff is owned by nrdc equity partners, a private equity firm that bought the retailer out of an earlier bankruptcy in march 2008 .
mr. fortunoff, who was president and chief executive of the family - run retailer, fortunoff fine jewelry and silverware, helped begin its transformation in 1964. that was when he encouraged his parents, the store' s founders, max and clara fortunoff, to follow their customers to the suburb of westbury, n. y .
he met his wife of 47 years, helene, at n. y. u. after marrying, the couple worked together closely at fortunoff, expanding the product line. he focused on his favorite, antique silver, while she took control of jewelry marketing. mrs. fortunoff remains in charge of fortunoff' s jewelry marketing .
in an interview, baker said nrdc wants to make fortunoff into
a national chain ,
possibly with stores across the country. he did not say how many. baker said nrdc will also renovate existing fortunoff stores .
the fortunoff sale comes on the heels of an all - day auction, held at the company' s attorneys' offices, in which a group of six liquidators had a winning bid for fortunoff' s $ 212 million merchandise .
retail industry sources said nrdc will pay $ 100 million for fortunoff, a company with sales of about $ 450 million .
he said fortunoff jewelry and home furnishings will one day be sold in all 47 lord & taylor stores. baker said that while he thinks fortunoff is already an upscale retailer store, he wants to make it
a bit more
upscale .
retail industry sources said last week that fortunoff, struggling for the past few years, was in talks to be acquired .
fortunoff' s combination of home furnishings and jewelry was unique, as was its large product assortment, retail experts pointed out. in addition, they said, fortunoff made its mark as one of the first retailers to define
affordable luxury .
fortunoff was bought from bankruptcy protection nearly one year ago, in march of 2008, by nrdc equity partners, the same company that owns lord & taylor. the jewelry purveyors fifth avenue store closed in january, following a deal in which fortunoff wares would be sold within the department store. the shop within a shop plan had since been abandoned by nrdc, following fortunoffs business difficulties .
and this may not be the last place the fortunoff name will resurface. david fortunoff, grandson of company founders max and clara, was part of the family group that bought back the name and they are exploring other options, he said at the opening .
in a statement monday morning, the fortunoff and mayrock families said ,
given the challenges that fortunoff faced in the current economic environment, we are happy that this opportunity for an affiliation with nrdc and lord & taylor emerged. we look forward to seeing fortunoff move quickly through the chapter 11 process and are very hopeful it will thrive under this new ownership. and of course we are delighted that the stores will remain open to serve the public and fortunoff' s employees will continue in their jobs. since 1922, when max and clara fortunoff founded the company, it has been known for its quality, selection, service and value. these core values continue to guide it today and we' re happy that nrdc intends to marry the storied fortunoff brand with lord & taylor .
fortunoff filed for chapter 11 bankruptcy protection in early february, citing a
severe liquidity crisis
magnified by the grim economic conditions .
fortunoff had four full - line stores in the chain. in addition to the westbury flagship, these stores were located in white plains, new york, woodbridge, new jersey, and wayne, new jersey. in addition, fortunoff operated 16 specialty stores: jewelry and fine gifts were offered at the chain' s shops on 57th street in manhattan, which closed in february 2009, and were also offered at fortunoff' s paramus park mall location. a clearance center was also operated in east garden city, new york. indoor and outdoor furniture were the focus of another 14 stores throughout new york, new jersey, connecticut and pennsylvania; these stores were known as
fortunoff backyard stores
. this portion of the fortunoff chain was revived in february 2010, although not all former fortunoff backyard stores have reopened .
i fully expect something similar will happen with the fortunoff name after its assets are auctioned, an event scheduled to take place this week. i won' t be at all surprised to see infomercials or tv shopping broadcasts by holiday 2010 for
fortunoff fine jewelry at affordable prices .
if customers had any questions about grills or accessories, they were in luck. fortunoff employees were trained extensively on the grills, merkur said .
fortunoff holdings, llc filled for chapter 11 bankruptcy protection in february 2009. according to court filings, it owed the industry over $ 6 million .
a focal point for fortunoff’s massive weber display turned out to be its wall of accessories, which generated significant add - on sales for the retailer .
weber also had its own staff on the floor in all six fortunoff stores, an arrangement it has with other retailers in non - compete situations .
i would hear consumers that i would interview about fortunoff' s state that they were seeing less and less of what made them special and that they could find similar or even the same product elsewhere for less ,
cohen said .
fortunoff' s 80 year heritage had been lost .
mr. fortunoff' s parents founded the store, described as the first discount retailer in the new york metropolitan area, in 1922, the year they married. mr. fortunoff' s childhood home was the back part of the store. he grew up sweeping floors, trimming windows and creating displays .
after 87 years of business, jewelry and housewares chain fortunoff holdings sparkle has expired. the retailer will begin a liquidation sale of all assets on thursday .
no other stores? long island has too many stores, causing too much traffic. half of' em should be closed and replaced with one fortunoff .
i won' t be at all surprised to see infomercials or tv shopping broadcastsby holiday 2010 for' fortunoff fine jewelry at affordable prices.'
marshal cohen, an analyst for npd group in port washington, said in recent years fortunoff had focused less on exclusive items and more on
efficiency .
wayne towne center... anchor, jcpenney, following the closing of its other main anchor fortunoff... was recently completely closed off as secondary anchor old navy closed and primary anchors fortunoff and jcpenney closed their mall entrances... with the closure of fortunoff and the 215, 000 - square - foot (20, 000 m2) vacancy it has created, construction may not be necessary on a new building to house the dick' s store ...
when fortunoff backyard stores relaunched under new ownership in february, it had big plans for the grill department at its flagship store in westbury, n. y .
mention of the fortunoff name evokes many associations, often including the words
quality and price .
but for long island shoppers, the name also has a face .
under bankruptcy provisions, other bidders could make competing offers for fortunoff, the announcement said. retail experts, however, said, the chance of other bidders emerging is small .
new york — an official affiliated with great american group said that a consortium of liquidators led by great american was the winning bidder to run the liquidation of bankrupt retailer fortunoff .
the largely untrained staff undermines what the new fortunoff could be — i. e. , more like tiffany, less like macy’s — in the mind of someone new to it .
according to new york attorney general andrew cuomo, fortunoff customers who still have gift cards or credit slips from the store may still use them at liquidation sales up until march 8. after filing for bankruptcy protection, fortunoff stopped accepting the waivers, of which there is an estimated $ 8. 5 million in circulation, but will now have to honor them .
the fortunoff brand is attempting a come back, announcing the upcoming launch of an e - commerce website a nd plans to open a number of stores in the tri - state area .
when archaeologists are digging new york out of permafrost a century from now, they may determine that in late 2007, diamond cuff bracelets enslaved womankind. fortunoff’s window displays will support this .
max and clara fortunoff opened their first department store in brooklyn in 1922. there are now several on the east coast, all operating for the last 25 years under the iconic slogan, “the source. ” the new store on 57th street is the first fortunoff to open since investment groups gained ownership in 2005. fortunoff family members have retained hands - on roles in managing the business, but you get the impression they are losing grip on their name as it mutates into a corporate logo. after the holidays, the old store on fifth avenue will close .
the sale—which will include all 20 store locations in new york, new jersey, connecticut, and pennsylvania—was ordered by the bankruptcy court as a result of fortunoff’s chapter 11 filing earlier this month .
mr. fortunoff became president of fortunoff after his sister died in 1983. an astute retailer, he built his business by undercutting competitors. from 1985 to 1995, he led an effort to build a retail mall adjacent to the 213, 000 - square - foot westbury store as a way of increasing business. he put his company on the internet more than five years ago. and he encouraged his children to work in the store on holidays and weekends, in an effort to ensure that fortunoff would remain in the family. five of his six children are involved in the business .
retail industry sources said last week that fortunoff, struggling for the past few years, was in talks to be acquired from two investment firms - - trimaran capital partners and kier group of manhattan .
ka - chingle, all the way fortunoff is an unparalleled place to buy trinkets for all the princess brides, gotti boys, southern televangelists, african warlords and wayne newtons on your shopping list .
fortunoff brands llc has agreed to license rights to fortunoff - brand fine jewelry in the united states and on the internet to four leaf designs, a new partnership between esther fortunoff and david fortunoff, and lester friedlander and shaun apgar, the principals of jewelry wholesaler clover ii. four leaf designs will launch an e - commerce site and open stores in new york, new jersey, and connecticut. “this marks the reintroduction of a proud brand in a market that has long associated fortunoff with service, quality, and value, ” said esther fortunoff. “we are delighted to be able to once again to provide our loyal customers with the fashionable, world - class - quality jewelry they love at prices that make sense. ” according to a statement from fortunoff brands, four leaf designs plans to launch the e - commerce site as early as this fall and focus on stores next year. new stores are expected to be in the same markets though not necessarily the same locations as the previous stores. fortunoff holdings filed for bankruptcy in february 2009, a year after being purchased by nrdc equity partners llc. eleven of the top creditors in the chapter 11 filing were jewelry companies. eventually, the filing was dismissed by the court, leaving many vendors outraged and in the red. earlier this year, the fortunoff backyard store was re - launched under a license to furniture concepts and seven stores opened. clover ii is a jewelry wholesaler with manufacturing facilities in italy, china, and canada. clover operates the robert lee morris brand, which has retail, wholesale, and television shopping businesses, and the elizabeth & james jewelry brand, under a license with dualstar entertainment group. the company was founded by lester friedlander, who has been in the jewelry business for 35 years .
yet, even with this tumble from its heyday, retail experts and, perhaps more important, the company' s prospective buyer, are convinced the fortunoff brand is solid enough to stage a comeback .
during the late 1980s, fortunoff began to feel the pressure of competitors. and by the' 90s, stores like target, the home depot' s expo design center and bed bath & beyond were within minutes of all of fortunoff' s stores. alan fortunoff, who was chief executive of the company until his death in 2000, purchased the land around the westbury location and began the development process. according to the source close to the family, he realized that the survival of the chain' s flagship store relied upon building a surrounding mall with restaurants and other retailers to draw more customers. the process took nearly a decade, during which alan fortunoff impressed even his critics with his style of meeting with area residents and those opposed to his plans at informal barbecues and living - room gatherings .
the source said that the current generation of the founding families, the fortunoffs and mayrocks, while competent and bright, lacked alan fortunoff' s touch, which had been considered expert in the industry .
nrdc, which is based in purchase, n. y. , also owns fortunoff, a u. s. jewelry and home furnishings chain of stores, and clothing design firm creative design studios .
by acquiring hudson' s bay co. along with previous acquisitions lord & taylor and fortunoff, we will have an unprecedented opportunity to recreate the retail landscape in north america ,
said baker .
pictured is a small sampling of the weber grill display at fortunoff backyard stores westbury, n. y. , location. during the peak selling season, the display encompassed 1, 200 square feet .
mr. fortunoff contributed to several local and national organizations. he raised the ire of some local nonprofit groups when he underwrote a concert series run by a for - profit group in 1981. mr. fortunoff said at the time that he was sponsoring the series because he had the'' freedom of choice of putting my money where i want to'' and because he felt the concerts had mass appeal .
and most importantly, fortunoff is poised to reclaim one other aspect of its previous incarnation: a big share of the moderate to better outdoor and casual furniture and accessories business in the new york metropolitan area .
merkur said ultimately fortunoff hopes to have 20 backyard stores in the new york metro area, which combined with chair king' s 18 units in texas will give the store great buying power. isadore mayrock, a member of the founding family, is an investor in the new operation and also helped on the real estate side for the relaunch. the old fortunoff had 18 outdoor stores and departments within flagship stores .
in an announcement early monday morning, fortunoff said it has voluntarily filed for chapter 11 bankruptcy protection and that it will be acquired by nrdc equity partners, the owner of the venerable lord & taylor department store .
hudson' s bay company, the canadian retailer established in 1670, has a new ownership group led by nrdc equity partners, which acquired lord & taylor in 2006 and bought fortunoff out of bankruptcy in march .
i have seen a lot of heavy shopping bags from their fifth avenue store hanging over a number of minky elbows over the years, so i presumed fortunoff to be fancy, in that old new yawk way .
the families who owned and operated fortunoff before its sale to private equity firms have purchased all the intellectual property of the now bankrupt company and are researching ways to relaunch the brand name, family members said tuesday .
fortunoff now has 20 locations, including its westbury store and three other
full - line
stores, two jewelry and gift stores and 14 indoor - outdoor furniture locations in new york, new jersey, connecticut and pennsylvania .
richard baker, chairman of lord & taylor and chief executive of nrdc, said in a statement that nrdc plans to invest $ 100 million into the fortunoff business
with investments being made in both existing and additional stores .
the case is in re: fortunoff holdings llc, u. s. bankruptcy court, southern district of new york, no. 09 - 10497. (reporting by emily chasan and phil wahba; editing by gary hill )
richard baker, chairman of lord & taylor and chief executive officer of nrdc, said in a statement that nrdc plans to invest $ 100 million in the fortunoff business
with investments being made in both existing and additional stores .
new york, feb 24 (reuters) - a federal bankruptcy judge on tuesday approved the sale of luxury retailer fortunoff holdings llc to a group of seven liquidators, setting the stage for it to begin liquidating as early as wednesday .
“these are unprecedented economic times, and it’s unfortunate that after all these years, a new york icon like fortunoff is going to close and people are going to lose their jobs, ” said harvey m. yellen, chairman of great american group. “fortunoff has been a destination for fine jewelry, home goods, and gifts at incredible value, and the going out of business sale will offer a final opportunity to purchase this quality merchandise at even greater discounts. ”
the family bought back the real estate of the famous westbury flagship, but he said he doubts there will ever be a fortunoff retail operation back in that space .
brick and mortar is a tough sell in home furnishings .
the five other fortunoff backyard stores also had substantial, albeit smaller, weber displays. the idea for the big one began long before the retailer relaunched. marty merkur is the coo of furniture concepts llc, which licenses the fortunoff brand for outdoor furniture and seasonal products in the united states and online. he said he, ceo bernard sensale, and the rest of the furniture concepts management team met with all their vendors to discuss inventory and merchandising strategies before the relaunch .
the customers were sad to see us go and they are happy to see us back ,
said sensale, who had been chief marketing officer for fortunoff .
we are the place to come to for better outdoor furniture .
friends say mr. fortunoff was a quiet man who intuitively knew what others wanted. never pretentious, they say he even insisted on serving small hot dogs as appetizers at fancy parties, because he thought that was what guests liked to eat .
arnold orlick, fortunoff' s chief executive, said in a statement that
it has been a difficult retail environment and capital constraints have limited expansion opportunities. this transaction will help realign our capital structure and provide an avenue for future growth .
though he always intended to work for his parents, mr. fortunoff graduated from new york university in 1953 with adegree in business, and from its law school in 1955. he earned a master' s degree in international law there in 1974 .
baker said ,
we will have an unprecedented opportunity to recreate the retail landscape in north america. enormous potential exists by upgrading the offerings at both the bay and zellers and by bringing lord & taylor, fortunoff & cds into the mix .
these are unprecedented economic times, and it' s unfortunate that after all these years, a new york icon like fortunoff is going to close and people are going to lose their jobs ,
great america chairman harvey yellen said in a release .
we' ve seen it ,
he said .
look what happened with gucci and burberry, jcpenney and lord & taylor, some of the great brand turnarounds of our lives. fortunoff is not nearly as tarnished as any of those examples .
competition in the home furnishing market had become even fiercer as consumers reaped the benefits of the housing bubble, experts said. fortunoff' s also did not have a store prototype it could successfully roll out, they said. and the white plains store, modeled on the westbury location, did not live up to expectations. among the company' s bankruptcy filings, fortunoff notes that the white plains store
has never achieved the level of anticipated sales, and in fact, has continually operated at a loss .
in 2005, the fortunoff family, which has operated the business since it opened on livonia avenue in brooklyn in 1922, sold a 75 percent stake in the company to the trimaran and kier groups. the family sold the remaining 25 percent to trimaran later .
bobby wilkerson, president of wilkerson and associates added, “since 1922 consumers have looked to fortunoff for its quality, selection, and value of fine jewelry. this liquidation sale is affording an excellent opportunity to shop for quality jewelry and watches at incredible value. ”
a court - ordered liquidation sale was in full swing thursday at all 20 stores operated by bankrupt jewelry a nd housewares retailer fortunoff fine jewelry and silverware llc. hundreds of shoppers rushed to the stores, many to use their gift cards before they become worthless .
alan m. fortunoff, who transformed a mom - and - pop store in brooklyn selling pots and pans to a fifth avenue retailer specializing in discounted jewelry and home furnishings, died on tuesday at his home in old westbury, n. y. he was 67 .
fortunoff, a shopping institution on long island for decades, said monday it has filed for bankruptcy protection and agreed to be acquired by the owners of lord & taylor, the second change in ownership for the westbury - based home furnishing and jewelry chain in two years .
( newsday (melville, ny) (krt) via thomson dialog newsedge) feb. 11 - - mention of the fortunoff name evokes many associations, often including the words
quality and price .
but for long island shoppers, the name also has a face .
the company, which sells jewelry, dinnerware and furniture in new york, new jersey, pennsylvania and connecticut, filed for bankruptcy protection earlier this month. fortunoff is owned by nrdc equity partners, a private equity firm that bought the retailer out of an earlier bankruptcy last year .
hundreds, perhaps thousands, of fortunoff shoppers - some nostalgic, others merely intent on bargain - hunting - lined up at jewelry counters, tested couches and browsed fine - china collections inside the retailer' s flagship store in westbury yesterday, the first day of a liquidation sale .
fortunoff, which was founded 87 years ago, filed for bankruptcy protection for the second time on feb. 5. no buyer surfaced, and a group of liquidation firms won the auction on monday with a deal worth 88. 8 percent for about $ 96 million of inventory .
if there was any irony in the fact that the grand reopening for the fortunoff backyard store had to be postponed for a day because of a blizzard that hit the new york area, it certainly didn' t seem to bother any of the people on hand for that opening .
nrdc, however, has infused $ 10 million into the company so it can continue operating, and baker said the company plans on rolling out fortunoff home and bridal registries as boutiques within lord & taylor stores - - something baker expects will stabilize the company even in a shaky economy .
these are unprecedented economic times, and its unfortunate that after all those years, a new york icon like fortunoff is going to close and people are going to lose their jobs,  said harvey yellen, chairman of great american group, one of the firms handling the liquidation sale .
the chain began liquidating all of its stores on february 25, 2009; the sales concluded a little more than three months later in the first week of june 2009. in july 2009, following company dissolution, the descendants of max and clara fortunoff reacquired the intellectual property and website .
established in 1922 on brooklyn' s livonia avenue, fortunoff followed its customers as they moved to the suburbs of long island and opened its flagship westbury store in 1964, gaining the reputation as one of the country' s
ultimate
lifestyle retail centers. it expanded in the 1970s and 1980s, adding stores in new jersey, connecticut and pennsylvania and bringing its jewelry and silverware operations to manhattan' s prestigious fifth avenue. fortunoff was
giving department stores a run for their money ,
said marshal cohen, chief retail analyst for npd group, a port washington - based marketing research company .
someone told me that the fortunoff' s outdoor store is coming back in the mall at westbury. i, for one, am not interested in that, i want the whole store to come back. i miss the housewares, gifts, linens, and especially the christmas departments most of all .
more than $ 100 million in business disappeared when we and home depot expo went out of business ,
said merkur, who headed up home merchandising for the old store and is chief merchant of the new one. merkur spent virtually his entire career - - 39 years - - with fortunoff .
even into their later years, founders max and clara fortunoff each continued to run their own sections within the flagship westbury store. their son, alan fortunoff, who built up the chain' s legendary silver and jewelry business with his wife, helene, was not above mingling at barbecues and in the dens and kitchens of residents in the westbury area to gain support for the construction of the mall at the source. his sister, marjorie mayrock, president of home furnishings, was a common sight on the store floor, intricately involved in everything from merchandise display to advertising, according to people who know the family .
he also contributed to several jewish organizations, including the fortunoff video archive for holocaust testimonies at yale university and the salomon schechter school of manhattan. he was a trustee of the new york university law center foundation and a member of the dean' s advisory council of the stern school of business at the university .
davidowitz said it remains to be seen what nrdc will do for fortunoff. but, he said, he can see reductions ahead .
there has to be layoffs and cutbacks ,
davidowitz said .
i think the whole business has to be looked at. they might even have to close stores .
owned by a group that includes former management - - ceo bernard sensale and chief operating officer marty merkur, and majority owners the barish family that runs the chair king in texas - - the new fortunoff features one of the old store' s cornerstone merchandise classifications, not to mention one of its most profitable .
some brides must have emotional connections to fortunoff. it was a place they went with their grandmothers, maybe, or where their first pearls were bought. maybe, for them, the name alone is enough to inspire the perception of continuity; of an unbroken chain of family tradition, as opposed to just a chain .
the two, with the backing of the barish family - - david barish is president of the chair king and furniture concepts, the launch company that merkur and sensale started - - hope to regain a big piece of that market share. together fortunoff and chair king say they expect to do $ 70 million a year .
jewelry and home furnishings retailer fortunoff holdings llc, which has been in operation for more than 87 years, will conduct a court - ordered bankruptcy liquidation sale beginning sept. 26, according to a statement issued by the gordon co. , one of a group of seven liquidation companies that won an auction to manage the liquidation .
people wrote letters from all around the country asking,' can you build a fortunoff here?'
said carla cromie amato, marjorie mayrock' s personal assistant for 10 years .
but she never went that far, because she wanted it to be a hands - on family thing. she was a dynamo .
they turned the company over to their children in 1957. alan fortunoff and his wife, helene, ran the jewelry and fine silver operations. his sister, marjorie mayrock, and her husband, harold, operated the home furnishings division. the third generation of fortunoffs and mayrocks also has been involved in running the business throughout the years .
if you read some of the internet announcements, you' ll note the' return' of fortunffs is being launched by former execs from their outdoor furniture department with investment and licensing to use the brand names fortunoff, the source and customer data bases from one of the family members. there also are investment $ $ from the furniture king (texas - based outdoor furniture retailer). this new venture is named furniture concepts. they have rehired former managers and sales associates to appear as if the original fortunoff' s is back. it is not the same family owned business that moved from brooklyn to westbury and in my opinion will attempt to capitalize on its past reputation .
kanaras, 68, of baldwin, who had picked up a pearl necklace for 30 percent off, said she has been visiting fortunoff since moving to long island in 1967. yesterday, she said she was happy to still be able to use a gift card, but disappointed she would have to find somewhere else to do her holiday shopping .
in the transaction, for which no purchase price was disclosed, nrdc along with true north retail investments, an affiliate of the intertech group, inc. , acquired hbc and consolidated its ownership of l & t, fortunoff, and creative design studios (cds) under a holding company called the hudson' s bay trading company (hbtc) .
in what will be the most significant sale in fortunoff’s long and storied history, inventory valued at approximately $ 212 million will be completely liquidated. customers will find tremendous savings on everything in the store, including fine jewelry and watches, antique jewelry and silver, everything for the table, fine gifts, home furnishings including bedroom and bath, fireplace and outdoor furnishings .
arff, with more than 75 combined years of financial, real estate, retail and luxury and lifestyle home goods industry experience, includes joel kier of the kier group, frank j. sciame, jr. and john randolph of sciame development, and isidore mayrock, former principal partner of fortunoff, the home furnishings retailer his family founded in 1923 and sold in 2005 .
a small case in back was, for me, the heart of the store: a selection of vintage estate pieces bought by ruth fortunoff, who clearly has an eye for them. i loved a thick 18 - karat rope fastened by two rams’ heads and glittering knobs of ruby and sandstone. it was very fall of rome. tragically, it was $ 6, 500 .
the going - out - of - business sale comes as a result of the companys chapter 11 filing on feb. 5, after which fortunoff tried unsuccessfully to find a buyer in an auction earlier this week. the sale will include inventory valued near $ 212 million and 20 store locations in new york, new jersey, connecticut and pennsylvania. store fixtures will also be sold .
in recent years, however, the company lost its edge, and the family sold its stake to a joint venture of two investment firms - - trimaran capital partners and the kier group - - between 2005 and 2007. a week ago, fortunoff filed for chapter 11 bankruptcy even as it announced a deal for lord & taylor' s parent company to acquire it for $ 100 million .
when helene [ fortunoff ] started the jewelry business, she started under the unique concept of fair pricing in jewelry ,
said howard davidowitz, chairman of davidowitz & associates, a manhattan - based national retail consultant .
i had a bunch of jewelry clients at the time and they were charging all sorts of crazy markups. and helene went out and charged a fair price .
i came to mourn ,
said rosemarie godfrey, 68, of franklin square, before walking into the store to browse. godfrey worked in operational buying at the retailer from 1983 to 1992, and said she was
proud to be part of the fortunoff family. i have to pay my respects ,
she added .
my daughter and i were like regulars here .
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 .
( newsday (melville, ny) (krt) via thomson dialog newsedge) feb. 4 - - fortunoff, a shopping institution on long island for decades, said monday it has filed for bankruptcy protection and agreed to be acquired for $ 100 million by the owners of lord & taylor, the second change in ownership for the westbury - based home furnishing and jewelry chain in the past two years .
we always watch trends very closely at the fortunoff stores ,
he said .
we try new sales techniques in terms of what consumers are interested in when it comes to product knowledge. we' ll listen to them on the floor and that drives some of the videos we' ll post on weber. com. it gave us lots of insights on how we can improve our services .
bought a dining table with chairs, server, 4 club chairs, 4 ottomans cushions and pillows. every fall through spring all my furniture is covered with covers from fortunoff. this year i found milky white cloud spots around my dining table after uncovering it. fortunoff service tells me i am 4 months out of warranty and will not stand behind their product. spoke to anthony cavaco, gen. manager, who brought my case to manufacturer. he got them to agree to take table back. anthony also helped me to get an upgrade in another table with a reasonable price different and a brand new table cover, too. i am so happy with the generosity and extreme fairness of my dealings with anthony who was very supportive and understanding. thank you anthony for standing by me and helping me with this situation !
a federal bankruptcy judge in man - hattan said tuesday that he was prepared to approve the sale of fortunoff holdings llc to seven companies that would liquidate its stores and inventory. final approval by judge robert drain is expected at a hearing this morning set for 9 a. m. two outstanding issues to be resolved today are the finalization of a service agreement and the judge’s need to resolve questions about jewelry held by the retailer on a consignment basis. the deal emerged during an auction monday in which the companies outbid stalking horse bidder gordon brothers retail partners and hilco merchant resources with an offer of roughly $ 82 million. the seven firms are tiger capital group llc, sb capital group llc, kimco realty services, great american group wf llc, hudson capital partners llc, the gordon co. inc. (unrelated to gordon brothers) and bobby wilkerson inc. the latter two are jewelers that will deal with fortunoff’s jewelry inventory. the stalking horse bid amounts to 80 percent of the guaranteed value of the assets, while the winning bid equaled 88. 8 percent of that amount. the group led by tiger capital last week had attempted to make a stalking horse bid of its own of about 77 percent of the total value of the assets. lawyers for fortunoff argued that it was necessary to effect a transaction immediately to have going - out - of - business sales ready to start as the mother’s day selling season began. fortunoff filed for chapter 11 bankruptcy court protection on feb. 5. it was its second filing in as many years. the retailer filed early in 2008, and was brought out of bankruptcy when it was acquired by nrdc equity partners .
video testimony) - - the unique identifier used to locate testimonies in the fortunoff video archive. these records contain a brief summary of the tesitmony and several library of congress subject headings, both topical and geographic. to locate the corresponding bibliographic record in orbis, you will need to conduct a keyword search for
hvt - #
( including the quotation marks), i. e .
hvt 30
.
even with the increasing competition, fortunoff and other retailers in luxury jewelry and home furnishings fared well during the late 1990s and into 2000 - - and then rode the wave of a booming housing market. but then came the decline, prompted by a growing emphasis on a more casual lifestyle, a slowing housing industry, the lack of an easily expandable store concept and the company' s slow attempts to adapt, according to industry experts .
a total of 11 patients with urogenital sinus anomalies have undergone a modified fortunoff technique combining total urogenital mobilization with the creation of urogenital sinus flaps by a single surgeon (rg) since 1998. patient age at surgery ranged from 3 months to 13 years (mean 3. 8 years). diagnoses included congenital adrenal hyperplasia in 7 patients, cloacal malformation in 2 and urogenital sinus malformation in 2. eight patients underwent a perineal approach and 3 underwent a posterior sagittal approach .
use of these materials will require registration at yale' s manuscripts and archives. as is the case with other materials from the fortunoff video archive, permission to view these materials is not the same a permission to publish or cite from these materials. any citation of individual items from this collection must use the
cite as
field in the corresponding catalog record (see associated materials). only the first letter of the survivor' s surname is used to protect that person' s anonymity .
that sort of family presence and dedication to providing a wide selection of quality goods for their customers is what led to the fortunoff chain' s rise and decades of dominance as a - - some would say the - - original lifestyle retail center, carrying housewares, jewelry, silverware and furniture. for a time, the regional chain' s small size and family management gave it the advantages of nimbleness and an intimate knowledge of its customer base that allowed it to compete successfully with national department store chains .
this deal was teased last week and has gone through. back when nrdc originally bought lord & taylor, everyone thought it was purely a real estate deal - - that nrdc would redevelop some sites, particularly lord & taylor' s massive new york flagship, and sell others. but they' ve kept lord & taylor going and brought some new life to the brand and now are adding fortunoff to the mix. and nrdc is saying again that they' re not just in it for the real estate. they' re going to inject cash into the franchise and keep it going .
i bought what seemed like a very nice and somewhat expensive patio set in april. the staff in the staten island store was very, very nice. after the delivery and minimal usage, we found the the webbing under the couch cushions was too loose and the cushions sagged down. my first call was back to the store. the manager (who was oh so nice when we were about to buy the set) said
i don' t know what to tell you, call the number for corporate for warranty issues .
when i called the corporate office, i was told
send us an email with photos .
i sent the photos and an email, called to follow up, sent another email and called again. it' s now 3 months later, mid summer when i' d like to enjoy this expensive new set and i haven' t heard a word back from fortunoff. i' d suggest that anyone about to make a purchase there would know that there is zero customer service to be had if anything is wrong with the product. after a few more calls, fortunoff replaced the couch and cushions. it took longer than it should have but to be fair, i' ve updated the story .
buyer beware, the so called seven year warranty that fortunoff brags about is all lies. each employee will tell you that the warranty is covered by fortunoff but its not, its not a seven year warranty. i bought a table set for over 2k 3 years ago and it has oxidized so much that the table is disgusting and the chairs are starting to fall apart and after starting a claim i was told that manufacture will not even entertain my claim because it is not a structural issue. they told me to take my table to a body shop and have them refinish it and paint it and also said that if i don' t someone with a body shop that it will be cheaper to buy a new table than get it refinished. they also told me to purchase a set that was $ 3, 500 to avoid going through his and its not even a guarantee that i will not have the issue so i spent over 2k for my first set and then they want me to spend $ 3, 500 on a different set in a 4 year span. i cancelled all my order for a new wicker patio set and will never do business here again. better off buying a set from home depot for a fraction of the price and not feel guilty about throwing it out in year or two. fortunoff didn' t even try to make it right with me even though i spent way over $ 10k in a 4 year span with them and has lost a customer forever. i was not asking for a full refund but just to make it right and they couldn' t come through. the workers are very nice except for the manager john, who was not helpful and kept on telling me that the person i spoke with prior was way over his pay grade. i hope this review will help someone else before they go through the same issue.
fortunoff was a new york-based retailer of home , jewelry and furniture stores founded in 1922 by max and clara fortunoff . the original fortunoff store was on livonia avenue in brownsville , brooklyn , new york . the chain 's flagship store was in westbury , long island ; the store opened in 1964 and anchored the mall at the source , which was built around the fortunoff store , from 1997 until fortunoff 's closing in 2009 . fortunoff had four full-line stores in the chain . in addition to the westbury flagship , these stores were located in white plains , new york ; woodbridge , new jersey ; and wayne , new jersey . in addition , fortunoff operated 16 specialty stores : jewelry and fine gifts were offered at the chain 's shops on 57th street in manhattan , which closed in february 2009 , and were also offered at fortunoff 's paramus park mall location . a clearance center was also operated in east garden city , new york . indoor and outdoor furniture were the focus of another 14 stores throughout new york , new jersey , connecticut and pennsylvania ; these stores were known as " fortunoff backyard stores " . this portion of the fortunoff chain was revived in february 2010 , although not all former fortunoff backyard stores have reopened . the chain began liquidating all of its stores on february 25 , 2009 ; the sales concluded a little more than three months later in the first week of june 2009 . in july 2009 , following company dissolution , the descendants of max and clara fortunoff reacquired the intellectual property and website . fortunoff now does business as an online jewelry retailer , as well as operating its backyard stores . 
fortunoff was a new york-based retailer of home, jewelry and furniture stores founded in 1922 by max and clara fortunoff. the original fortunoff store was on livonia avenue in brownsville, brooklyn, new york. the chain's flagship store was in westbury, long island; the store opened in 1964 and anchored the mall at the source, which was built around the fortunoff store, from 1997 until fortunoff's closing in 2009. fortunoff had four full-line stores in the chain. in addition to the westbury flagship, these stores were located in white plains, new york; woodbridge, new jersey; and wayne, new jersey. in addition, fortunoff operated 16 specialty stores: jewelry and fine gifts were offered at the chain's shops on 57th street in manhattan, which closed in february 2009, and were also offered at fortunoff's paramus park mall location. a clearance center was also operated in east garden city, new york. indoor and outdoor furniture were the focus of another 14 stores throughout new york, new jersey, connecticut and pennsylvania; these stores were known as " fortunoff backyard stores ". this portion of the fortunoff chain was revived in february 2010, although not all former fortunoff backyard stores have reopened. the chain began liquidating all of its stores on february 25, 2009; the sales concluded a little more than three months later in the first week of june 2009. in july 2009, following company dissolution, the descendants of max and clara fortunoff reacquired the intellectual property and website. fortunoff now does business as an online jewelry retailer, as well as operating its backyard stores.
fortunoff was a new york-based retailer of home, jewelry and furniture stores founded in 1922 by max and clara fortunoff. the original fortunoff store was on livonia avenue in brownsville, brooklyn, new york. the chain's flagship store was in westbury, long island; the store opened in 1964 and anchored the mall at the source, which was built around the fortunoff store, from 1997 until fortunoff's closing in 2009. fortunoff had four full-line stores in the chain. in addition to the westbury flagship, these stores were located in white plains, new york; woodbridge, new jersey; and wayne, new jersey. in addition, fortunoff operated 16 specialty stores: jewelry and fine gifts were offered at the chain's shops on 57th street in manhattan, which closed in february 2009, and were also offered at fortunoff's paramus park mall location. a clearance center was also operated in east garden city, new york. indoor and outdoor furniture were the focus of another 14 stores throughout new york, new jersey, connecticut and pennsylvania; these stores were known as " fortunoff backyard stores ". this portion of the fortunoff chain was revived in february 2010, although not all former fortunoff backyard stores have reopened. the chain began liquidating all of its stores on february 25, 2009; the sales concluded a little more than three months later in the first week of june 2009. in july 2009, following company dissolution, the descendants of max and clara fortunoff reacquired the intellectual property and website. fortunoff now does business as an online jewelry retailer, as well as operating its backyard stores.