By  on February 24, 2009

A court hearing in Manhattan bankruptcy court today will officially determine Fortunoff’s fate, but already the signs suggest a Chapter 11 liquidation.

A court filing last week indicates Fortunoff has inked a stalking-horse agreement with Gordon Brothers Retail Partners and Hilco Merchant Resources to conduct going-out-of-business sales at all stores. A second group of liquidators — Great American Group, Hudson Capital, SB Capital and Tiger Capital — was said to have submitted a competing offer to run GOB sales. An auction was being held Monday night.

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