Loehmann’s, which has been in business for more than 90 years, will begin liquidating its inventory today. The company blamed its demise on declining economic conditions, intense competition from other off-price and outlet retailers as well as competition online. They have 93 stores in 11 states, so you’ve got some shopping to do, kids. But how do you mark down mark-downs of 70%? What’s the incentive to go there now? – apparently, no one was going there when everything was already heavily discounted.
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