Written by Illustrated News Staff email@example.com Friday, 17 January 2014 00:00
After almost 93 years, Loehmann’s in New Hyde Park, an upscale off-price specialty retailer that originated the concept, is going out of business.
Yesterday, the U.S. Bankruptcy Court in Manhattan approved an order authorizing a joint venture formed by SB Capital Group, LLC, Tiger Capital Group, LLC, and A & G Realty Partners, to conduct “Going Out of Business” sales in each of Loehmann’s 39 locations in 11 states and the District of Columbia. 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, which begins Jan. 9. Loehmann’s is located at 1550 Union Turnpike in the Lake
Success Shopping Center.
Loehmann’s began operating in 1921, when Frieda Loehmann opened the first store in Brooklyn, NY. Loehmann made her rounds to designer’s showrooms, buying their overstocks, cancellations and samples at a fraction of the original wholesale price.
Declining economic conditions in the retailer’s key markets of California, New York, Florida and the Midwest adversely affected Loehmann’s operations. The company’s performance was also impacted by intense competition from other off-price and outlet retailers, as well as the e-commerce channel. In November, Loehmann’s tried to sell its business, but was unable to secure meaningful bids. On Dec. 15, 2013, Loehmann’s filed for Chapter 11 bankruptcy protection for the third time in its history.
Last Updated (Tuesday, 16 September 2014 10:15) Friday, 19 September 2014 00:00
Senator Jack Martins discussed education, business and drug use among other topics in a an exclusive interview with this newspaper and FiOS 1 News. He’s currently seeking re-election in November, being challenged by Democrat Adam Haber. Pointing to what he called “key legislation,” particularly the tax cap legislation passed in 2011 and prescription drug bill he helped shepherd to enactment, Martins feels New York State is on track to continue fiscal responsibility.
“In these last four years, we’ve had four balanced budgets, we’ve cut taxes working together, we have paid off debt, streamlined government, kept spending below 2 percent each one of those years,” Martins said.
Last Updated (Monday, 29 November 1999 19:00) Thursday, 18 September 2014 00:00
Nassau County District Attorney Kathleen Rice’s office confirmed it’s investigating allegations made towards a Long Island Little League coach, suggesting he kept $12,000 players raised for a trip to Cooperstown.
Parents were outraged and children heartbroken to find the team would not be going to Cooperstown this year. They say Merillon Sharks coach Vincent Carreca, of New Hyde Park, told kids they were ready to go a few days before the trip. Then parents, who called Dreams Park in Cooperstown to confirm meal plans, learned the Sharks were not registered for the event.
“This is a horrible thing that happened,” one parent said, who asked not to be identified.
Thursday, 18 September 2014 00:00
Sewanhaka boys soccer coach Peter Burgess wasn’t sure how long his team’s playoff drought was when it was broken last season.
“Somebody said it was 13 years,” said Burgess, whose entering his fourth year coaching varsity. “But I think it was five or six, I don’t know maybe longer.”
But one thing’s for certain, he wants to keep last year’s momentum going.
The Indians, who started their season with a 3-0 loss at Hewlett, will aim for their second straight trip to the playoffs this year.
Thursday, 18 September 2014 00:00
The Sewanhaka Indians made their Nassau Conference II debut with a bang. The Indians opened their season at home against the Calhoun Colts, unsure what to expect, as all they had ever seen of the Colts was one tape of a scrimmage.
“It was nerve raking leading up to the game,” said Head Coach George Kasimatis. “We weren’t sure what to expect on offense or defense, you have to guess early on. “
But it didn’t take the Indians long to introduce themselves to the conference, as junior, Quarterback, Elijah Tracey broke a 75-yard run taking it the distance to put the Indians up early, which ended in a 27-7 rout of the Colts.