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Loehmann's has filed for bankruptcy and plans to liquidate its business.

Loehmann's Holdings filed for Chapter 11 bankruptcy protection in federal bankruptcy court in Manhattan this past Sunday (December 15, 2013).  They indicated in filings that it plans to sell its remaining assets in an auction subject to the court's approval.

The New-York based retailer, which has 39 stores and its online operations, said in a statement that its business was effected by increased competition in the off-price retail niche and limited access to capital.

The company had previously filed for bankruptcy protection in 2010 due to overwhelming debt and emerged in 2011. It also filed for Chapter 11 reorganization in 1999, emerging in 2000 after closing 25 stores.

SB Capital Group, Tiger Capital Group and A & G Realty Partners, which have handled other retailer liquidations, have agreed to make an initial bid of $19 million for Loehmann's assets, according to court documents. The auction is expected to begin Dec. 30 and be approved by the court in early January.

More than 87 years after opening its first off-price apparel store in Brooklyn, NY, Loehmann's continues to distinguish itself as a preeminent, upscale, off-price specialty retailer for name brand designer fashions.

Couture and designer fashions plus current, in-season merchandise and frequent new arrivals, all at prices 30% to 65% less than department store prices, still serve as hallmark features of Loehmann's, attracting generations of fashion-savvy women and men to a  shopping experience unlike any other. 

Loehmann's carries a wide spectrum of looks favored by customers with classic to contemporary lifestyles.  Store departments include ladies sportswear, dresses, career and casual collections; shoes, accessories including handbags and jewelry plus men's, juniors and children's. 

Loehmann's continues to feature its famous “Back Room” where shoppers are privy to a select yet ever changing and surprising array of high end designer and couture clothing at lower prices. With an exclusive selection of colors and sizes represented, the thrill of “getting a deal” on something special and unique is as exciting today as it was when Frieda Loehmann started the Company in 1921.

Now, more than 60 stores strong in 16 states, the stores are filled with collections from today's top designer names such as Calvin Klein, Diane Von Furstenberg, Kenneth Cole, Dolce & Gabbana, Valentino, Nicole Miller, Anne Klein, Donna Karan, Michael Kors and more! Loehmann's has grown to include a large flagship store in Manhattan and one in Beverly Hills, as well as a “Size Search” in-store service that helps find and ship appropriate sized items to customers; plus, in select large stores, free personal shopping service.

Loehmann's also has an Insider Club for their customers, which gives members extra savings opportunities, advance notice of sales and new designer arrival updates. Plus, Insider Club Gold members enjoy additional exclusive benefits, including 10% off purchases every day for a low annual fee of $25.

Have you seen Loehmann's lately? It's where fashion and common sense meet. The designer names and selections are constantly changing, but one thing remains the same... Loehmann's low discount prices!

Find Loehmann's Hot Trends and read the Loehmann's Blog.


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