Headlines

Loehmann’s to Close Quarter of Stores

Move is part of restructuring effort

Published

14 years ago

October 20, 2010

VMSD Staff

Loehmann's plans to close up to 15 stores over the next 12 months and sell the inventory. Loehmann's Capital Corp. is restructuring debt coming due next year, and received approval for the plan from more than half of its noteholders.

The department store chain is owned by Dubai investment group Istithmar, a unit of Dubai World.

Loehmann's opened its first store in Brooklyn in 1921 and now operates 60 stores in 16 states. It sells designer brands such as Calvin Klein and Diane Von Furstenburg at discounted prices.

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