Loehmann's

Defunct American retail company

Loehmann's was an American retail company which 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 could 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. 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. On August 4, 2018, loehmanns. com ceased operations after a period of showing an "under construction" page.

In May 1999, Loehmann's declared Chapter 11 bankruptcy. It emerged from bankruptcy protection on September 6, 2000. In 2004, it was acquired for $177 million (~$ in ) by Arcapita (formerly Crescent Capital), a private investment firm complying with Islamic Banking law. In May 2006, Arcapita sold Loehmann's for $300 million (~$ in ) 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. 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. On December 16, 2013, Loehmann's filed for Chapter 11 bankruptcy for the third time, listing assets at $100 million, with debt at $500 million. 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. In 2017, after Loehmann's Manhattan lease expired, Barneys New York opened its downtown store at the Loehmann’s site at Seventh Avenue and 16th Street in Chelsea.