Is the final curtain falling on embattled BKF?

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BKF Capital Group, the embattled asset management firm founded in 1982 by John Levin, has liquidated its investment accounts for outside clients and has wound down its asset management business. The move comes as BKF's chief executive, John Siciliano, and chief financial officer, Clarke Gray, announced plans to leave the firm next year.

BKF's only hope is to sell itself or raise additional capital. But according to BKF's most recent quarterly filing with the U.S. Securities and Exchange Commission, "there are no serious discussions underway which may result in a transaction in the immediate future."

BKF's demise is a