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The death knell has rung for iconic New York discount department store, Loehmann's, since it was announced that the store had filed for Chapter 11 bankruptcy in December. Loehmann's online shop stopped accepting orders in early January, before the physical location launched liquidation sales.
But the iconic retailer is not dead yet. A hedge fund called Esopus Creek Value Series Fund LP purchased intellectual rights and the IP assets back in January and is finally contractually allowed to use them. They announced that they'd be relaunching the Loehmann's site with an eye towards a younger customer in May.
Loehmann's website currently reads, "At this time, we are undergoing some new and exciting changes that we hope will serve our customers even better in the future." What that will actually mean is up to branding expert Charles Koppelman, who was hired to execute the relaunch. He told WWD that the site will feature the same brands, but will market to where the kids these days are: on mobile and social. "We are going to talk to [the younger customer]," he said. "They will tell us what they want and help us with our buying."
· Loehmann's to Come Back Online [WWD]
· Loehmann's Online Store Is Already Down for the Count [Racked NY]