Henry Dunay Designs Inc., one of fine jewelry’s venerable names, is going to auction.
This story first appeared in the November 30, 2009 issue of WWD. Subscribe Today.
The company, founded by its namesake more than 50 years ago, won court approval on Wednesday to auction Dunay’s jewelry inventory at the U.S. Bankruptcy Court in Manhattan.
Henry Dunay sold his pieces, which start at about $4,000 and reach as much as $500,000, to Bergdorf Goodman, Neiman Marcus and independent retailers around the world.
The auction is set for Dec. 16.
The firm filed for Chapter 11 bankruptcy protection in June, a symbol of how hard the recession had hurt the sector.
The auction will be at the offices of Jay Silverberg, Dunay’s lawyer at Sills Cummis & Gross P.C. Dunay declined to disclose the inventory’s value. Court records for the case were not immediately available.
Once the auction process is complete, Henry Dunay Designs Inc. will effectively shut down. Dunay, however, plans to continue creating jewelry.
“The business will close and I will start smaller,” Dunay told WWD. “We will work on certain things and do special orders.”