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WESTBURY, NY-NRDC Equity Partners, the owner of the Lord & Taylor department-store chain is buying Fortunoff out of Chapter 11 bankruptcy. Executives say they plan to invest $100 million in the business and have provided $10 million so that Fortunoff can continue to buy inventory.

The retailer operates four full-line stores in New York and New Jersey, as well as about 20 satellite stores throughout the Northeast, including a Manhattan location. “This transaction will help realign our capital structure and provide an avenue for future growth,” said Arnold Orlick, Fortunoff’s chief executive, in a statement.

NRDC Equity Partners is an arm of National Realty and Development Corp., which is based in Purchase, NY. It owns stakes in Lord & Taylor as well as the Linen’s ‘n Things chain.

National Realty and Development Corp. is also a shopping center owner with about 150 projects in the Northeast. The company also has an interest in Windermere on the Lake, a residential development in North Stamford, CT.

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