Fortunoff Files for Chapter 11
New York City Jewelry and housewares retailer Fortunoff Holdings filed for Chapter 11 bankruptcy protection Thursday. The Westbury, Long Island-based company cited assets between $100 million and $500 million, along with the same amount in liabilities.
“The jewelry and home-goods business have been hit particularly hard by the economic downturn. However, we are actively seeking a buyer for the business, and we will continue to do so in the Chapter 11 process,” said Fortunoff’s chief executive, Charles Chinni, in a statement.
Fortunoff’s parent, NRDC Equity Partners, which also owns Lord & Taylor, had recently put the chain up for sale. NRDC bought 87-year-old Fortunoff out of bankruptcy protection last March.
Fortunoff began suffering a “severe liquidity crisis” in January as it was trying to sell the company, according to court documents.
Dismal sales over the 2008 holiday season, weak consumer spending on high-end furniture and jewelry, the costs of expanding its jewelry line in Lord & Taylor stores and reduced borrowing capacity all hurt operations.
Safeway offers heart health screenings
PLEASANTON, Calif. Safeway is offering free blood pressure, BMI (body mass index), and cholesterol level screenings at store pharmacies to promote heart health and prevent the number one killer of women – heart disease.
As part of the company’s “Love Your Heart” campaign, a wellness program to draw attention to the importance of knowing the risk factors of heart disease, Safeway expects to conduct 36,000 free heart health screenings nationwide. The free screenings are available to women and men and will take place from Feb. 4 through Feb. 24 in Safeway pharmacies, including Vons, Pavilions, Randalls, Tom Thumb, Dominick’s, Genuardi’s and Carrs pharmacies.
“Most women are unaware that heart disease claims more women’s lives than any other disease or illness. Only 8%of women consider it the biggest threat to their health,” said Dave Fong, SVP pharmacy. “Our goal is to educate women about the risk factors and help them take control of their health.”
The screenings, a $40 value, are sponsored by Safeway, Campbell Soup Company, Kellogg’s, Healthy Choice, Diet Coke, Fresh Express, StarKist, Barilla PLUS, and Health Magazine. Screenings will be conducted by nurses or pharmacists at store pharmacies.
Walmart celebrates Black History Month
BENTONVILLE, Ark. Walmart is celebrating Black History Month this year by offering customers complimentary “Profiles and Pride” and “Black History Timeline” pamphlets at select stores. The pamphlets provide insightful black history information ideal for schools, organizations or individuals.
“This year’s Black History Month theme encourages our associates and customers to honor the positive impact African Americans have made throughout our nation’s history,” said Esther Silver-Parker, SVP corporate affairs. “Our company continues to be committed to the communities it serves through education, opportunity and celebration, and our campaign to celebrate black history throughout the year is perfectly aligned with this commitment. We proudly engage in initiatives to celebrate black history and we encourage our customers to join us in making this a year-round observance.”
To help parents and children increase their knowledge of black history, select Walmart stores nationwide and Walmart.com will feature the GEEBEE Black Heritage SeriesTM games and puzzles. The offerings will include an African counting game, a game about The Underground Railroad, black history trivia games, and an assortment of puzzles.
In an effort to stay connected to its African-American customers, Walmart’s “Our Voice” Web site offers resource information for families to enjoy throughout the year. The Web site – www.wmourvoice.com -provides an online platform for reinforcing the company’s black history message through games and useful information. Users can enjoy an online version of the GEEBEE Black Heritage SeriesTM games and puzzles or access the site to obtain updated information about Wal-Mart’s corporate initiatives supporting the African-American community. Walmart has also established a partnership with ancestry.com, which allows them to offer an interface on the site to aid users in tracing their family genealogy.