Speculation is swirling over the fate of Fortunoff's, the famed Long Island retailer. As Fortunoff is struggling to remain financially viable, according to multiple sources, the private equity company NRDC Equity Partners that owns Lord & Taylor is in serious negotiations to buy Fortunoff, according to the New York Times.
Just two years ago, Lord & Taylor was near collapse when NRDC bought and revived the company. Now Fortunoff, which also has outlets in the metropolitan area outside Long Island, could be taken on by NRDC.
--Noel Rubinton