The retailer failed to file its annual report on time and said it may issue a going concern warning.
27-Carat Diamond Leads Sotheby’s NY Sept. Sale
The oval-shaped stone is estimated to sell for as much as $2.5 million at the auction house’s Sept. 22 Important Jewels sale.

New York--Sotheby’s New York will kick off its fall auction season with a sale led by a 27.35-carat diamond that’s expected to sell for up to $2.5 million.
The oval-shaped diamond of D color and VS2 clarity leads the auction house’s Important Jewels sale, which is coming up on Thursday.
Top lots also include a cushion-cut fancy intense yellow diamond weighing 30.71 carats (with a pre-sale estimate of $675,000 to $775,000), a signed Bulgari marquise-shaped diamond of 10.10 carats flanked by two tapered baguette diamonds that has a pre-sale high of $400,000, and a round 9.24-carat diamond and platinum ring that could sell for up to $375,000.
The auction also will feature rare and historically important designs from renowned Art Nouveau designer René Lalique, who collaborated with actress Sarah Bernhardt to create two serpent-form jewels for her role as Empress Theodora in "Theodora," for which he was so fond it later inspired a Medusa-themed ring that appears in the sale.
There also will be designs by Louis Comfort Tiffany, the first design director for Tiffany & Co. who was known for his highly stylized pieces that prioritized craftsmanship and conception over intrinsic value.
It also will include vintage pieces from houses like Van Cleef & Arpels and Cartier, as well as a trove of jewels by Bulgari from the 1960s and ‘70s and many more large white and colored diamonds and gemstones.
The full list of lots, which includes more than 200 pieces, can be found on Sothebys.com.
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