Loehmann's Files For Bankruptcy
Monday, January 27, 2014 at 11:11 AM | Cara Kovacs
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It is a sad day for New York City bargain-hunters, as we mourn the loss of retail giant Loehmann’s, the New York staple is closing its doors. Liquidating all of its national stores, and stopping sales on its website, the fashion haven was just 6 years shy of its centennial anniversary. What began in Brooklyn 94 years ago has become a national chain stocked with the greatest brands at unbeatable prices. We can find solace in the fact that their liquidation will probably inspire the ultimate of all sales, with all of their already marked down merchandise sold with even lower sale prices. Stop in to any of their 39 stores to get your final fix before they close their doors for the last time (online purchases are no longer possible).

Loehmann’s was always a must-stop shop for women (and men) looking to buy samples of overstock from the most exclusive luxury brands and designers. Sometimes even overwhelming in size, Loehmann’s always seemed to have the more than enough options to drag to the fitting room. From silk to leather to jewels, Loehmann’s made the high-end accessible for millions of people nation-wide. Women flocked to Loehmann’s to find the gems of their closets, to join the masses in high-end labels whether or not their wallets matched. Unfortunately, according to New York Daily News, “The company has $50 million to $100 million in assets and $100 million to $500 million in debts, according to its Chapter 11 bankruptcy petition, which it filed Sunday in Manhattan Federal Court.” Saying goodbye to Loehmann’s is like saying goodbye to an old friend.

At least there’s Century 21…

Tags: Behind The Fabric, The Scene, loehman's