Veteran U.S. Department store Loehmann ' s suffers from rival crackdown

The New York Post quoted sources as saying that Loehmann, a veteran U.S. department store, is facing another bankruptcy and will seek bankruptcy protection from the government in the coming weeks. Loehmann ' s, with 34 stores, was Maxx by the oppression of a competitor such as TJ's and Ross stores.

According to sources, Loehmann's headquarters in Bronx this week made a lot of layoffs, and the shortage of funds caused the company to cancel a large number of orders. Bankers familiar with the news said Loehmann's bankruptcy filing was only a matter of time.

Loehmann ' s filed for bankruptcy protection from two times, the most recent of which was in 2010, when 20 of its stores suffered losses and subsequently Whippoorwill Associates acquired the company and restructured it. While Steven Newman, chief executive, has been renovating stores in an effort to attract young consumers, the effect is not obvious, and in addition to being small, inventories have seriously affected the discount retailer.

Loehmann ' s was founded in 1921 by Frieda Loehmann and Charles Loehmann son, Whippoorwill Associates the Dubai sovereign fund prior to the takeover.