Thomson ReutersDecember 20, 2013 00:40
By Nick Brown
NEW YORK (Reuters) - Ninety-two years after it was founded, discount clothing chain Loehmann's this week filed for bankruptcy protection for the third, and likely final, time.
Intensifying competition and limited access to capital left the chain, founded in Brooklyn by Frieda Loehmann, with no choice, said its chairman, Michael Appel.
Liquidators have offered to buy Loehmann's assets, and if a better offer doesn't surface, the retailer's next sale will be its last.