03/28/2009 05:12 am ET Updated May 25, 2011

Fortunoff Liquidation Begins

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.

Liquidators Great American Group, Hudson Capital, SB Capital, Tiger Capital, Kimco Realty Services, and jewelry liquidators Bobby Wilkerson Inc and The Gordon Company had made the winning bid at a bankruptcy auction for the company on Monday. They are planning to begin going-out-of-business sales on Wednesday, Great American Group said.

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