Update: January, 2014 Loehmann’s announced they are closing all stores after store owners filed for Chapter 11 bankruptcy in December due to declining sales.
An excerpt from an Oct. 15, 2010 article in the Post Chronicle:
Discount department store chain Loehmann’s will close 15 stores over the next 12 months and sell the inventory, the company said on Thursday.
Loehmann’s Capital Corp, which is restructuring its debt, said more than half of its noteholders approved a consent solicitation that would let it close a quarter of its stores.
The company, owned by Dubai investment group Istithmar, is one of many apparel retailers struggling because of a downturn in consumer spending linked to high U.S. unemployment.
Loehmann’s, which opened in Brooklyn in 1921, has 60 stores in 16 states and sells designer brands such as Calvin Klein and Diane Von Furstenburg…
In these challenging times, when more people than ever before are being extra price-conscious, seeking out deals and flocking to discount stores, it’s hard to imagine that a national store which has provided an excellent shopping venue offering amazing quality designer clothing at truly unbelievably low prices for 79 years – yes, 79 years – is having difficulty. So many discount stores seem to be thriving these days. The fact that Loehman’s does not have online shopping available must be a large contributing factor. As much as I appreciate them, shopping their stores are not accessible via the click of a mouse, and that has to be a detriment to their bottom line. I don’t know, but I hope the Loehmann’s nearest me isn’t on that list of store closings.
Here is an example of an incredible deal that SpendLessTV.com viewer, Jamie Lauren, recently received on one single item at Loehmann’s:
A women’s (btw, they do carry men’s clothing as well) Tahari designer black pant suit, fully lined:
Full price was $600. Loehmann’s price after additional clearance discount was applied: less than $79!
She saved a whopping: $521.01 – on one single item alone!
Loehmann’s has not, at this time, disclosed which of their shops are closing. But if you are lucky enough to have one in your neighborhood, now would be as good a time as any to visit, especially with holiday shopping maddness right around the corner.
P.S. Because it’s free, you can’t lose by signing up for Loehmann’s free “Insider Club” to receive discounts, advance notice of sales, special offers, and 15% off for your birthday.
For more fashion money saving tips visit SpendLessTV.com’s Clothing, Fashion, Wardrobe Channel .
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