|Loehmann's in Falls Church [photo by Renee S. from Yelp.]|
The store, one of the best spots in the Annandale area to snap up Michael Kors, Tahari, Calvin Klein, and other brands at deep discounts, will begin liquidating its inventory Jan. 9. Customers can expect markdowns of up to 40 percent on already discounted merchandise.
The entire Loehmann’s chain, with 39 stores in 11 states and D.C., is shutting down, reports a Jan. 8 press release from the SB Capital Group LLC, Tiger Capital Group LL, and A & G Realty Partners. The U.S. Bankruptcy Court in Manhattan approved an order authorizing a joint venture formed by those companies to conduct “going out of business” sales in each Loehmann’s store.
“More than $65 million of current in-season inventory and new arrivals from many of the top designer names will be liquidated during the sale,” the release states.
The 30,000-square foot store in Falls Church offers career outfits, accessories, jewelry, party dresses, casual wear, jeans, coats, and a small selection of menswear. The store is open 10 a.m.-9:30 p.m. Monday through Saturday and 11 a.m.-7 p.m. on Sunday. The manager said she doesn’t know when the store will close.
Loehmann’s filed for Chapter 11 bankruptcy protection Dec. 15. The press release cites “declining economic conditions in the retailer’s key markets of California, New York, Florida, and the Midwest” for the company’s economic troubles, along with “intense competition from other off-price and outlet retailers, as well as the e-commerce channel.”
The company was founded in 1921 by Frieda Loehmann in Brooklyn, N.Y. She made the rounds of designers’ showrooms, buying their overstocks, cancellations, and samples at a fraction of the original wholesale price. The “Back Room” in every store offered fashions from top designers at deep discounts.
Before Loehmann’s Plaza was built in the 1960s, the small Falls Church Airpark was on that site, according to a website that documents abandoned and little known airfields.