Update Published Sept. 28, 2009: An affiliate of liquidation firm, Gordon Brothers, won with the highest bid last week in a bankruptcy auction for Finlay Enterprises' assets. As part of the deal, Gordon Brothers said it would run Finlay's store closing liquidation sales at its 49 remaining jewelry stores and pay the retailer 85.75% of inventory sold, which is estimated at $116 million. Additionally, Gordon Brothers will close the company's two distribution centers and continue to run the going-out-of-business sales nearing completion at 58 stores -- a process started shortly after Finlay's bankruptcy filing in August. If all goes as planned, the liquidation would be complete by the end of February.