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 (Monday, 29 November 1999 19:00) Thursday, 23 October 2014 00:00
At the Oct. 17 meeting of the Herricks Board of Education, Superintendent of Schools Dr. John Bierwirth discussed the recent investigation of students who have been illegally attending school in the Herricks School District, despite living in outer areas. Bierwirth said that 14 prospective cases were investigated and eight students were forced to leave the district.
Board of Education President James Gounaris said weeding out students who are attending school in Herricks under false pretenses is boiled down to one fact: it takes away valuable resources from the children of tax-paying members of the community.
Last Updated (Monday, 29 November 1999 19:00) Wednesday, 22 October 2014 00:00
Local school districts are reaffirming student hygiene standards in the wake of the non-polio enterovirus (EV- D68) that’s been found in the United States. A strain of the enterovirus was found in Southampton’s middle and high schools, but officials say it was not the virus that has caused the national EV-D68 outbreak.
The disease disproportionately affects infants, children and adolescents who lack immunity, according to the Center for Disease Control. School districts have been notified to follow New York State Health Department guidelines to combat possible infections.
Thursday, 23 October 2014 00:00
The Sewanhaka Indians varsity football team hosted Elmont Spartans on Saturday, Oct. 18 in its final home game of the regular season.
It certainly did not go as the Indians had hoped, falling 18-8, in a mistake filled game. Head coach George Kasimatis said the Indians had their chances, but kept digging themselves into a hole with mental mistakes on both sides of the ball.
Playing from behind, senior running back Brenton Mighty was able to break free for a long touchdown run, to put the Indians on the board.
Thursday, 16 October 2014 00:00
Sewanhaka Indians Head football coach George Kasimatis told his team to expect a dogfight in this weeks game against the New Hyde Park Gladiators, and he was right after its 35-21 victory last week.
“All the kids know each other really well, it’s always competitive when we play each other,” he said.