The trademarks and intellectual property of off-price retailer Loehmann’s have been acquired by Esopus Creek Value Series Fund, a subsidiary of hedge fund Esopus Creek Advisors. The sale happened last week in U.S. Bankruptcy Court for the Southern District of New York in Manhattan.
“Loehmann’s is an iconic brand that has served the fashion needs of generations of women and their families for nearly 100 years,” said Esopus managing members Andrew L. Sole and Lauren A. Krueger in a joint statement. “We are very excited to own Loehmann’s valuable portfolio of brands, e-commerce websites, and its customer list. Over the next several months we will evaluate different opportunities and partnerships for the Loehmann’s portfolio, some of which have already presented themselves.”
According to a report in the New York Post, Esopus paid $750,000.
Liquidation sales at all 39 stores are being conducted by a joint venture of SB Capital Group, LLC, Tiger Capital Group, LLC and A & G Realty Partners.
Loehmann’s, an off-price retailer with a 92-year history, filed for bankruptcy protection in mid-December—its third filing since 1999.