Finlay Enterprises files for Ch. 11 protection

New York City Jewelry retailer Finlay Enterprises has filed for Chapter 11 bankruptcy protection and plans to pursue an auction of its business and assets.

The company has also filed motions with the bankruptcy court to allow it to run its operations without interruption while the bankruptcy and auction process run their course.

Finlay had 182 locations at the end of the second quarter, including 67 Bailey Banks & Biddle stores, 34 Carlyle and four Congress specialty jewelry stores.

It also had 77 licensed departments with Bon Ton.