Loehmann’s Files Third Bankruptcy, Plans To Liquidate

ABG is a strong supporter of businesses in our Town and is always saddened to learn of any which are forced to close their doors. Such was the case when we learned the A&P on Central Avenue would soon be closing. We’ve posted previously about Mr Feiner’s Supermarket-Free Zones throughout the Town. Amazingly, most of the Villages in the Town have a supermarket. Gee, how do they do it? 

We’ve learned that Loehmann’s in the shopping center they’ve shared with White Plains Bowl and Apple Farm on Rt 119 for years will be closing as they’ve filed for their third bankruptcy, with plans to liquidate. Loehmann’s was known for its deep discounts on designer fashions, but will now join a list of other low-price apparel retailers such as Filene’s Basement that have closed their doors. The company, which has 1,600 employees, said its assets are worth between $50 million and $100 million. 

The store chain was founded in 1921 by Frieda Loehmann and her son, Charles, in Crown Heights, Brooklyn. Loehmann’s has about 40 stores and competes with chains like Ross and TJ Maxx. Interestingly, the CEO was recently on the popular CBS television show Undercover Boss, going under cover to see how to help improve his company. Loehmann’s, now based in the Bronx, has filed for the third time for bankruptcy protection and plans to shut down its business. Loehmann’s first declared bankruptcy in 1999, closing 25 stores in the process. The company then filed again for bankruptcy in 2010, shutting nine more stores. 

We’re sorry to see all of these employees lose their jobs and income as well as having to say goodbye to another long-time retail resident that has been a part of our community. Depending on when the store is rented, if its rented, the shared parking nightmare patrons are forced to endure will be temporarily eased. What an unfortunate way to accomplish this. We wish those affiliated with Loehmann’s the best of luck.