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Lord & Taylor in Talks to Buy Fortunoff

Lord & Taylor, the venerable New York City retailer, is in talks aimed at acquiring Fortunoff, a Long Island institution that has been struggling in the last few years, a source close to the matter said yesterday.

The talks had been ongoing for some time, but broke off about two weeks ago and have since resumed, the source said.

"Lord & Taylor got up and left the table two weeks ago," the source said. "But they've come back to the table, maybe thinking they're going to get a better price" for Fortunoff, which is considering filing for Chapter 11 bankruptcy protection, according to a report this week in Home Furnishings News.

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