private industry online retail founded 1921 defunct 2014 brick and mortar headquarters bronx new york products clothing footwear bedding furniture jewelry beauty products housewares owner esopus creek website www.loehmanns.com loehmann s is an online fashion retailer . it started as a single store in brooklyn new york and grew to a chain of off price department stores in the united states . the chain was best known for its back room where women interested in fashion can find designer clothes at prices lower than in department stores . while the largest portion of its client base was historically women the chain also offered shoes accessories and men s clothing . loehmann s filed for bankruptcy in december 2013 and liquidation sales began january 8 2014 . 1 once the merchandise was liquidated all stores were closed and esopus creek the private equity fund which had bought the rights to the loehmann s name continued to operate the company as an online retailer . 2 contents 1 history and operations 1.1 multiple bankruptcies 2 see also 3 references 4 external links history and operations edit frieda loehmann s original store was located in this building at 1476 bedford avenue in the crown heights neighborhood of brooklyn new york city . it is now a gospel church . in 1921 frieda loehmann a former department store buyer and her son charles opened the first loehmann s store in a former automobile showroom on the northwest corner of bedford avenue and sterling place in brooklyn new york . she bought seasonal overstocks from top new york designers and sold them at bargain prices . freida refused to expand into additional stores but her son opened a second store also called loehmann s on fordham road in the bronx in 1930 using the same sales strategy . frieda continued to run the original store buying the building and moving into living quarters above it . 3 soon after her death in 1962 the bedford avenue store was closed 3 and the charles c. loehmann company went public and began to expand to a wider area . loehmann s was acquired by associated dry goods in 1983 . in 1986 the may department stores company merged with associated dry goods . two years later may department stores company sold the 77 unit chain to an investor group led by a spanish concern sefinco ltd. and the sprout group a division of donaldson lufkin & jenrette . the company was taken public again in may 1996 . at its peak in 1999 the company had approximately 100 stores in 17 states . 4 multiple bankruptcies edit in may 1999 loehmann s declared chapter 11 bankruptcy . it emerged from bankruptcy protection on september 6 2000 . in 2004 it was acquired for 177 million by arcapita formerly crescent capital a private investment firm complying with islamic banking law . in may 2006 arcapita sold loehmann s for 300 million to istithmar a private equity firm based in dubai . on november 15 2010 loehmann s filed for chapter 11 again after failing to reach a debt extension with its creditors . it then announced the closing of eight stores . 5 by the end of february 2011 loehmann s emerged from bankruptcy protection . new york based loehmann s said it secured 45 million in financing while saying its restructuring eliminated 110 million in long term bond debt 14 million in interests and included 23 million in other cost reductions . 6 on december 16 2013 loehmann s filed for chapter 11 bankruptcy for the third time listing assets at 100 million but debt at 500 million . 7 1 8 during bankruptcy esopus creek value series fund lp purchased loehmann s intellectual property assets and customer lists starting in march 2014 and tiger capital group a & g realty partners and sb capital group purchased the inventory furniture and fixtures accounts receivable and cash component . 9 in 2017 when loehmann s lease expires barney s new york will open its downtown store at the loehmann s site at seventh avenue and 16th street in chelsea . 9 it is the same building where barney pressman started his discount men s business in 1923 . 9 loehmann s began its final going out of business sale at all stores on january 8 2014 and continued to close its stores and consolidate its remaining merchandise at its remaining stores during the liquidation process until the remaining stock has been cleared by the liquidator . loehmann s closed its last store on february 26 2014 and moved into solely online retailing from that date . 10 11 see also edit list of defunct department stores of the united states references edit notes a b young vicki m. december 16 2013 . loehmann s files chapter 11 . wwd . retrieved 16 december 2013 . loehmann s legendary discount retailer will reopen as an online store . new york ny daily news . april 8 2014 . retrieved 8 july 2014 . a b morris montrose . walkabout brooklyn riches from rags brownstoner 5 20 2010 dribben melissa 28 april 2008 . low cost fashion stalwart s last sale . the philadelphia inquirer . retrieved 10 january 2014 . loehmann s files for bankruptcy retrieved november 15 2010 discount retailer loehmann s emerges from chap . 11 business week march 1 2011 lehmann s chapter 11 voluntary petition pdf . pacermonitor . pacermonitor . retrieved 16 may 2016 . mccarty dawn december 16 2013 . loehmann s designer discounter files for bankruptcy . bloomberg . a b c esopus gets ok on loehmann s ip . wwd . 8 january 2014 . retrieved 8 january 2014 . http www.ajc.com news business retailer loehmanns going out of business ncgkf http www.washingtonpost.com business loehmanns to begin liquidation 2014 01 08 28d13dc2 7894 11e3 a647 a19deaf575b3 story.html . missing or empty title help dead link this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . november 2010 learn how and when to remove this template message further reading pasquarelli adrianne loehmann s defies the odds despite going bust twice discount clothier avoids fate of filene s daffy s crain s new york business june 23 2013 external links edit loehmann s website loehmann s official fashion blog the meaning of loehmann s rip marlene adler marks jewish world review june 8 1999 loehmann s new owner keeps the faith barney gimbel fortune february 7 2005 retrieved from https en.wikipedia.org w index.php title loehmann % 27s & oldid 720547545 categories companies established in 1921companies disestablished in 2014companies based in the bronxdiscount stores of the united statescompanies that filed for chapter 11 bankruptcy in 1999companies that filed for chapter 11 bankruptcy in 2010companies that filed for chapter 11 bankruptcy in 2013defunct department stores of the united statesprivately held companies based in new york city2014 disestablishments in new york1921 establishments in new yorkhidden categories pages with citations lacking titlespages with citations having bare urlsall articles with dead external linksarticles with dead 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