PodcastsJan 12, 2026
The latest poscasttest
FinancialsDec 17, 2013
Discount chain Loehmann’s files Chapter 11
For the third time, 91-year-old retail chain Loehmann’s has filed for bankruptcy and this time the chain plans to sell to a group of liquidators, court papers show.
New York--For the third time, 91-year-old retail chain Loehmann’s has filed for bankruptcy and this time the chain plans to sell to a group of liquidators, court papers show.
Based in the Bronx, N.Y., Loehmann’s is a department store that sells designer fashions at discount prices, including merchandise from a number of fine jewelry and watch designers. Jewelry and watch brands carried by Loehmann’s include Bulgari, Baume & Mercier, Charriol, Raymond Weil and Scott Kay.
Frieda Loehmann started the store in Brooklyn in 1921. As of Tuesday, the chain consisted of 40 stores in 11 states plus Washington, as well as the retailer’s website, according to Loehmanns.com.
In its Chapter 11 bankruptcy petition filed Sunday in U.S. Bankruptcy Court for the Southern District of New York, the chain lists assets of $50 million to $100 million, but $100 million to $500 million in debt.
Loehmann’s also lists between 1,000 and 5,000 creditors, with the top 30 unsecured creditors mentioned by name in the petition.
Among the top 30 is Circa, a New York-based buyer and seller of watches, jewelry and diamonds.
According to court papers, Circa’s claim totals $191,998. Circa did not respond to an inquiry made Tuesday about the nature of its relationship with Loehmann’s.
The downfall of Loehmann’s, as with so many other retailers including competitors Daffy’s and Filene’s Basement, was Internet competition.
As Women’s Wear Daily stated, “Consumers determined that their business model of securing season-old merchandise and selling at up to 65 percent off (is) an old model. That’s because online competitors can offer the same discount for current season merchandise.”
Court papers state that Loehmann’s plan is to sell to SB Capital Group LLC, Tiger Capital Group LLC and A & G Realty Partners LLC, three companies that have handled other retailer liquidations. The deal is subject to the approval of the bankruptcy court.
Editors' Picks
Sponsored by
More on Financials
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeCommercial production has begun underground at the Canadian diamond mine’s A21 pipe.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 08, 2024
Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
