Loehmann’s massive two-level store on Broadway between 73rd and 74th will probably close in the next few months as the company has filed for bankruptcy and is soliciting bids from liquidators.
Among other problems, the company apparently forgot about that whole Internet thing, launching its website in 2011. The chain was founded in 1921 in Brooklyn.
The company is still willing to sell to a buyer who would keep the stores open, but they haven’t had much luck finding anyone willing to keep the store open yet. Reuters says that the company gave 39 prospective buyers a look at its books and no one made “meaningful bids.”
An employee told us he’s still holding out hope that the store will remain open. He thought the earliest a liquidation would occur is this summer, although bids from liquidators are due by next week (some reports indicate an auction will occur on Dec. 30) and at least some liquidations at the 39 remaining Loehmann’s locations are expected to start in January.
One more thing: the Wall Street Journal reports that Loehmann’s won’t be honoring store credits from returned items during the liquidation, although gift cards will still be honored. That means get your butt to Loehmann’s as soon as possible if you have credits!
“As part of the contract it has with the liquidator, which will be tested at auction, Loehmann’s receives roughly 75% of the amount generated during the sales. The liquidators receive the other 25%. However, Loehmann’s must reimburse the full cost to liquidators of whatever gift cards or store credits are honored during the sales.”
If Loehmann’s does become vacated, it opens up a massive spot in the middle of a prime Broadway block. Any speculations on who might rent the space? It would almost certainly have to be a retailer, unless the space is subdivided.
Considering that large chain retailers are probably the only ones who can afford the rent, an H&M would be amazing. They now have SEVEN stores (or soon-to-be stores) between 34th and 51st Streets, plus a few locations on the UES, but nothing on the west side between 59th and 125th. The selection at the Columbus Circle store is terrible, and the store on 125 is always a mess…plus neither is terribly convenient for Upper West Siders. That Loehmann’s spot would be a prime location.
The UWS does not need another big box store (HM) bank, drug store, chuckee cheese, fast food franchise, etc. Newcomers to the neighborhood can be forgiven for confusing their new homes on the UWS for the suburban homes and malls they left behind. Try to fit into the neighborhood rather than turning the neighborhood into the mall you miss.
Trust me, I’m a small business owner (and a longtime resident of the UWS, not a newcomer) and would LOVE to see more local businesses open in the neighborhood, but I agree with Sean’s comment below. Like it or not, the “mom and pop” shops are not coming back, especially not to an enormous space like the one Loehmann’s will probably vacate. (Other than perhaps a grocery store, what local business could afford to fill that huge space? Shops like Laytner’s are downsizing, not expanding. And it might be the right size for a gym, but could a neighborhood trainer afford the rent, or would it end up as a Crunch or Equinox?) So, my thought is that if we’re going to get a chain store whether we like it or not, I’d rather hope for a chain that the neighborhood is lacking. We definitely don’t need another bank or cell phone store.
That space was once Plato’s Retreat and a gay bathhouse. Maybe we ‘need’ those businesses back?
My earliest childhood memories are of sitting in The Back Room while my mother shopped. I shop at Loehmann’s fairly frequently and will miss it.
Curious to see the comments.
On one hand, Loehmann’s is a historic name in New York city retail lore. some will remember Freda Loehmann herself.
On the other hand, they are now a corporate owned national chain , that has been in bankruptcy three times.
The space was a supermarket before Loehmann’s. and they really have not been here long enough to be considered old school.
I am ambivelent. Sorry the workers are losing their jobs, but the merchandise was not really compelling, and not such a bargain, you know?
Ah! The crazy West 70s. FYI: Mom & Pop shops ain’t coming back. Newbies want upscale brands they know. There is a dress code here. Don’t forget to put on your North Face. It would be nice to see Dean & Deluca there, but more than likely it will be a DSW or something like that. (After all that chain’s W79 location is to shut soon for a
condominium project.) By the way, why is Stand Up NY still open? Talk about relics from the past.
I’m throwing in a vote for CONTAINER STORE, if it has to be a big box …
Oh, man. That would sure save me a lot of time, considering how often I have to trek down to Chelsea… Such a great store. They get my vote as well.
Would love to see a Uniqlo! If not another big box retailer, why now subdivide it again and open some interesting smaller shops like they used to have back in the day, at the Ansonia. We could use a little retaill diversity — and please god, no more Duane Reades.
Heard next door that the rumor is Uniqlo will take next door!
It would be very neat if it became an indoor bazaar with local retailers–similar to street fairs, the 8th Street Bazaar, and the one that used to be on 42nd Street.
This way, it would be community-run and benefit us.
Another dream would be an uptown Strand.
Of course, that won’t happen. But let’s hope it doesn’t become a big-box store. We don’t need any more big-box stores, cell phone stores, or yuppy clothing joints.
Heck, maybe it is time to bring back “the retreat.”
Here’s the real deal… They hired a new CEO and SVP several years ago who had no long term business plan for the company. They fired about 70% of the seasoned managers who knew how to run an off priced business. The people at the top could not get along and gave the stores direction that neither agreed on. One of the board of directors came in to give advice, it was great advice but the SSVO told the stores not to follow his direction. It’s a case of bad management and very poor leadership. I feel bad for the nice people working in the store.
That whole area, as expensive as it is, has gotten so bland and characterless. It is like living inside of a big suburban mall — or in one of those commercial strips of Long Island or Jersey. Too bad, the Upper West used to be so much more charming and sweet.
While I agree that the UWS is getting a bit too rich for my taste (and my pocketbook), it is only following a trend of every other middle-class urban area in the US. Those of you who, like me, have been here for 30+ years, should not forget the bad old days, when you could not take public transportation after rush hour, where you could not walk in the parks, except on very busy sunny weekends, where broken auto glass on the street was an everyday affair, and where we instructed our children how to take refuge in doorman buildings when they were threatened by muggers. Although I too miss The Last Woundup, Maxible and Mandible, Ritob Pharmacy, and Teachers Restaurant, I know that small businesses are a thing of the past in almost every urban center. I would still rather be on the UWS than anywhere else I can imagine. I much prefer this new UWS to those bad old days. And, I can still walk to Lincoln Center, still see the widest selection of quality independent films available ANYWHERE, and live between 2 gorgeous parks. All THOSE things still fit my budget.
THANK YOU, HARRIET, for adding a note of simple reason and common-sense to all the kvetching about some imaginary “lost” UWS.
Welcome aboard!
Thank you Harriet for your frank and realistic comments.
Bloomingdales! We need a Bloomingdales on the uws.
Tell us more details Honest. What was the big idea that was not followed?
and MSS, Zzzzz …… yes we got it , the UWS is boring rich and bland.
I do not agree, but whatever. you folks are like a broken record. Oh you forget to blame Bloomberg.
Manhattan is boring rich and bland and so is everywhere else in the western world to some degree because of corporate world culture. Judging the neighborhood’s tastes I’d say it will be food, shoes, a waxing establishment that does Brazilian, a place that sells a baby stroller the size of an SUV to accommodate multiple bitts, and a fur salon because you can now where fur on the UWS. Hummus would also be welcome. This area is know as the suburbs of Manhattan. It closes at 10pm.
1. Spellcheck
2. Dead poet, firehouse, jakes dilemma, gin mill, blondies, prohibition, hi-life, bourbon street. I could go on about the post 10pm uws
3. Don’t miss your train to park slope.
And why not relics from the past? I, for one have been going to Stand Up NY since it opened. It certainly is a shame about the mom and pops. Although the original Zabar’s was once a very small store, I’m glad that they were able to expand when they did. If Zabar’s ever goes, then I go.
Well, there cannot not be a new small store that succeeds and grows into a new Zabars.
Why?
Because Gail Brewer passed another misguided law that that does not allow stores bigger then 50 feet of frontage, this she thinks will stop the Duane Reades and banks. But it also stops any and all other retailers from expanding , ones that would be desirable. It also saves those small quant stores that sell pornography.
Another un thought out legislation from our “beloved” now boro president. Thank you Democratic machine politics.
yes, an UWS Container Store! That would be a wonderful addition. However, I’ll be sad to see Loehman’s go. Another discount retailer down the drain on the UWS. Fond memories of that store as a child. With the loss of the Gap, Filene’s Basement and the real discount stores up around 96th Street, there’s nowhere left to shop that is not mall-like up here. Sad.
Whole foods. It used to be a grocery store.
This is why after 20yrs I need to leave the UWS. Whole Foods? Thats what you want? You have Zabars, Fairway, Citarella,West Side Market and you want Whole Foods to come and take business from our local independents? All of them are better in terms of value and selection than Whole Foods You should be standing up for local business that have been here before the bankers swooped in from the burbs. I think what you seek is across the river in Jersey and that where it should stay
soooo sad- a great store- great staff and managers- culd alwys run in and find the perfect blouse, seater and coat prices and selections were the best of any store-more than a store, loehmann;s is /was an institution–let’s hope it does ot close- hard to understand since the store was always busy…long lines…great deals…it’s like a relative moving…very sad- let’s HOPE…