By and  on August 6, 2009

Pummeled by consolidation at department stores where it had a substantial licensed business operation, Finlay Enterprises Inc. and seven affiliated companies filed for Chapter 11 bankruptcy court protection in Manhattan late Wednesday.

According to court papers, the jewelry firm entered into a stalking horse agreement with Gordon Brothers Retail Partners for the liquidation of Finlay’s assets. The agreement still requires Manhattan bankruptcy court approval, after which it will be subject to better offers at a court auction.

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