Fortunoff
From Wikipedia, the free encyclopedia
Fortunoff is a New York-based retailer of home, jewelry and furniture stores. The original Fortunoff store was in Brooklyn, founded in 1922 by Max and Clara Fortunoff.
The Fortunoff and Mayrock families, descendants of the founders, owned 100% of the company until November 2004, when large interests in the company were purchased by outside investors Trimaran Capital Partners and the Kier Group. [1] [2] However, the founding family remains involved in the management and operation of the company.
The sale, which originally was to have closed in December 2004, finally closed in July 2005. [3] The New York Post claimed in an article that the delay was due to the buyers wanting a substantial reduction in the purchase price due to weak sales numbers.
Today, Fortunoff has stores in New York and New Jersey, as well as furniture stores in Connecticut and Pennsylvania. Its flagship store is located in Westbury, New York, with a major jewelry-oriented outlet on Fifth Avenue in Manhattan.
