Fortunoff bankruptcy case dismissed, pending payment on administrative claims

By Caroline Salls

Pittsburgh, Sept. 11 - FFJS' Chapter 11 bankruptcy case was dismissed Thursday by the U.S. Bankruptcy Court for the Southern District of New York.

According to Thursday's ruling, the company has completed the winding up of its business affairs and either fully liquidated its assets or abandoned any assets that were not able to be liquidated.

In addition, judge James M. Peck said there is no prospect of any distribution to holders of pre-bankruptcy priority or general unsecured claims or equity holders.

When the company provides proof that it has paid its administrative claims in full, FFJS will be dissolved, its board of directors and official committee of unsecured creditors will be disbanded and the case will be officially dismissed, according to the order.

FFJS, formerly Fortunoff, a Westbury, N.Y., fine jewelry and home furnishings retailer, filed for bankruptcy on Feb. 4, 2008. Its Chapter 11 case number is 08-10353.

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