Nalli Silks is a synonymous to regal and stately Kancheepuram silk saris. With more than 80 years of experience in the retail industry and a hand-in-hand association with wedding ceremonies preparations, they are now geared up to enter the lucrative indus
Fortunoff’s appeal to the court to dismiss its Chapter 11 bankruptcy case has been approved by a New York court, as reported by Reuters. Fortunoff was bought over by NRDC Equity Partners, which owns Lord & Taylor department store chain. %% Fortunoff had arrived at an agreement with its creditors, upon which it made its appeal in the court. The company was in debt worth over $19 million. With the dismissal, liens against Fortunoff's property have been removed, which allows lenders to access the company's remaining assets. The junior lenders will in return pay $850,000 to the company’s wind-down reserve, which will pay bankruptcy-related administrative expenses. This has been done keeping in mind the safety of the 3,000 employees and the stores.
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