Corporate Restructuring & Bankruptcy Blog

On Tuesday, Finlay Enterprises, Inc. announced the winning bidders at an auction held for the sale of assets including furniture, fixtures, and equipment, information technology, intellectual property, and unexpired leases of real property. At the time of its bankruptcy filing, Finlay operated 77 licensed jewelry departments in major department stores and 106 stand-alone jewelry stores under the brand names Bailey Banks & Biddle, Carlyle & Co. Jewelers LLC and L. Congress, Inc.

The auction was held on November 4th at the offices of Finlay's bankruptcy counsel, Weil, Gotshal & Manges LLP, in accordance with court-approved bidding procedures governing the sale of substantially all of Finlay's assets. The winning bidders included the following:

• Gordon Brothers Retail Partners, LLC
• Adamas Partners, LLC
• S. Congress Fine Jewelers, LLC
• Murphy Jewelers
• Fink's Jewelers, Inc.
• General Growth Properties (also operating under chapter 11 protection)
• Govberg Jewelers
• The Forbes Company
• Synergies, Corp.
• Helzberg's Diamond Shops, Inc.

Finlay's selection of these bidders as the successful bidders is not final until the bids receive bankruptcy court approval. A hearing to consider the bids is scheduled for November 12th beginning at 4:00 p.m. (Eastern).

Research for this article performed using the netDockets Precedent Research System for Corporate Bankruptcy

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