design:retail | Loehmann’s Files for Bankruptcy

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Loehmann’s Files for Bankruptcy
December 16, 2013

New York-based seller of discounted designer goods Loehmann’s Holdings Inc. recently filed a Chapter 11 petition in the U.S. Bankruptcy Court in Manhattan, according to Bloomberg. The retailer, operated by Whippoorwill Associates Inc., is seeking bankruptcy protection for a third time amid growing competition from discount chains. Loehmann’s listed assets of as much as $100 million and debt of as much as $500 million. Started by Frieda Loehmann in Brooklyn in 1921, the chain currently includes 40 stores in 11 states.