Loehmann’s Liquidation Sales Start Tomorrow

by Harry Sheff

Loehmann'sGoing-out-of-business sales will begin at the 39 Loehmann’s off-price stores in 11 states tomorrow, following approval by the U.S. Bankruptcy Court in Manhattan. The sales will be run by a joint venture of SB Capital Group, LLC, Tiger Capital Group, LLC and A & G Realty Partners.

Loehmann’s, which was founded in Brooklyn, N.Y. in 1921, filed for Chapter 11 bankruptcy protection in mid-December and announced days later that it would liquidate. This was the third time the off-price retailer had filed for bankruptcy protection since 1999.