WESTBURY, N.Y.–Fortunoff is on the selling block, according to press reports.
Women’s Wear Daily is reporting that NRDC Equity Partners, the private-equity firm that bought the business 11 months ago, is looking to sell the business and is in talks with a potential buyer.
NRDC, which also owns Lord & Taylor, bought Fortunoff last year for $80 million, with an additional $30 million to resolve debt and other obligations.
NRDC planned to roll out Fortunoff-branded home and jewelry departments in all 47 Lord & Taylor stores and spend $100 million to renovate the specialty chain.
A Fortunoff spokesperson was not available for confirmation at press time.