• FINLAY CONCERNS: Finlay Enterprises Inc. said, in its annual report released Friday, there is “substantial doubt about our ability to continue as a going concern” due to its 2008 operating loss, the expectation of another loss in 2009 and its failure to comply with covenants in its credit agreement. It also disclosed that it had appointed Alvarez & Marsal’s David Coles as its chief restructuring officer and sold inventory and fixed assets to Bloomingdale’s for $33.4 million.

This story first appeared in the May 4, 2009 issue of WWD. Subscribe Today.