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) Saturday, 22 November 2014 00:00
Online food market OurHarvest has recently joined forces with Mineola-based Island Harvest Food Bank, Long Island’s largest hunger relief organization, to help feed hungry Long Islanders over Thanksgiving and throughout the holiday season.
Last Updated (Monday, 29 November 1999 19:00) Friday, 21 November 2014 00:00
In the year it’s been open, the Space at Westbury has been host to musicians, comedians, dancers and last week, the venue opend its doors for world class boxers and their loyal fans. One of the headliners was Richie “Brazil” Neves, from New Hyde Park.
Winner Takes All Productions and Greg Cohen Promotions brought a night of boxing to the Space on Thursday, Nov. 13. While boxing events have come to Long Island before, this was the first of its kind to come to The Space.
Thursday, 20 November 2014 00:00
Despite a disappointing playoff loss against the Wantagh Warriors, Sewanhaka Indians Head Coach George Kasimatis, is pleased with his football team’s season.
“I’m proud of my team,” he said. “But you are never satisfied unless you win the whole thing.”
The Indians faced a big challenge this year, moving up into Conference II left them as the new kids on the block, unfamiliar with the teams they would be going against.
Kasimatis will have a tall task next year replacing graduating seniors, which made up most of his starting lineup. Kasimatis said most of the offensive line, such as Danny Gianotti, Adrian Gonzalez and Louis Segarra III, and the defensive line, such as Justin Alexandre, Peter LaTorre and Peter Militano are seniors, many of which have started multiple years for him.
Thursday, 13 November 2014 00:00
The fifth seeded Sewanhaka Indians traveled to Wantagh to take on the fourth seeded Wantagh Warriors on Friday, Nov. 7 for its opening playoff game.
The Indians opened the game sluggish on offense, and were held in check throughout the first quarter. The Indians defense did its best to keep the team within striking distance, but field position form shaky special teams play, put them in a difficult position.
Warriors running back Dylan Beckwith, was able to punch in a 15-yard touchdown run, to give the Warriors a one score lead after the first quarter.