Well, its official.
Loehmann’s discount women’s department store, a Bronx-based retailer that has been waning in recent years, will close all of its locations and shut the doors of all of its stores for good after a liquidation sale.
A U.S. Bankruptcy Court in Manhattan authorized three groups currently running the chain to conduct going out of business sales at 39 locations in 11 states and Washington D.C.
Loehmann’s headquarters is in a building near Westchester Square, and their only borough retail location is at 5740 Broadway in Riverdale/Kingsbridge, They once had a large warehouse near the Square and a large store on Fordham Road.
The court authorized SB Capital Group, Tiger Capital Group, and A & G Realty Partners, to conduct sales that should result in the departure of the discount women’s clothing store from the fashion scene after almost 93 years.
Close out sale
That sale began at Loehmann’s stores on Thursday, January 9.
“We invite the public to shop early to get the best deals on a wide range of current designer merchandise at liquidation prices,” said Daniel Kane, managing partner of Tiger Group. “New inventory will be arriving daily from Loehmann’s distribution center, assuring shoppers an incredible selection.”
Loehmann’s bills itself as an “upscale, off-price speciality retailer that originated the concept,” including a “back room” that features top American and European designers’ selections at discount prices.
Long history
According to the company, Loehmann’s began operating in 1921 when Frieda Loehmann opened the first retail location in Brooklyn. She would make the rounds at designers showrooms, buy their overstocks at a fraction of the wholesale price.
The company called her “a trendsetter at a time when women rarely assumed that role,” and created a “forward thinking and innovative approach to retail [that] set the standard for what became an entire industry.”
Michelle Dolgow, Chief-of-Staff for the Bronx Chamber of Commerce, agreed.
“Frieda Loehman’s innovation truly set the standard for an industry to come, and her son Charles was responsible for bringing these iconic stores to our borough,” said Dolgow, “Unfortunately, the company’s declining performance was impacted by intense competition from other discount retailers as well as online shopping. Although this longtime retail fixture is closing, we look forward to other visionaries emulating them in the future,”
After not being able to find a buyer, the owners of Loehmann’s filed for Chapter 11 bankruptcy for the third time in the retailers history on December 15, 2013.
