Fortunoff Bankruptcy Non-Sale

March 3, 2009 by Lila Delilah

Last week, Fortunoff announced bankruptcy and was ordered by the courts to liquidate approximately $212 million in inventory. In a press release the company stated, ” Customers will find tremendous savings on everything in the store, including fine jewelry and watches, antique jewelry and silver, everything for the table, fine gifts, home furnishings including bedroom and bath, fireplace and outdoor furnishings.”

Turns out the Fortunoff liquidation sale is turning out to be very similar to the much publicized Circuit City sale, or non-sale. Jewelry and china are discounted just 10% off. Diamond suds and solitaires are only 15% off.

As a knowledgeable consumer you know that the price of gold is skyrocketing but you also know that the diamond industry is dead. The price of small stones are down about 20% and larger stones (2 carats to 7 carats) are down even more. So when shopping the Fortunoff bankruptcy sale or your local jewelry shop, just remember a sale has provide a consumer with some sort of value to really be considered a sale!

Find out how to calculate the real value of gold on Wiki Answers. Oh, the company is only accepting credits and gift certificates until March 8th, so cash them in now. Maybe a bigger markdown will come soon there after.

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