WESTBURY, N.Y.–It appears that Fortunoff will be liquidated by a consortium that includes Great American Group, SB Capital and Tiger Capital.
The consortium of liquidators beat out the joint venture comprised of Hilco and Gordon Brothers after 10 hours of bidding, an attorney with Zolfo Cooper, the law firm representing the joint venture, told HFN.
This month, Fortunoff filed for bankruptcy protection for a second time in a year.
The winning bid and liquidation of the specialty chain is subject to bankruptcy court approval, the attorney said.
The outcome will be determined at a hearing this afternoon.
The winning bidders have been involved together or individually in most of the big liquidations over the past few months, including Circuit City, Linens ’n Things and Mervyns.