Rockettes at Grand Central's Market; Loehmann's Files for Chapter 11

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MIDTOWN EAST—Grand Central launched its holiday fair this morning with an appearance by the Rockettes (pictured above with the terminal's Connie Breslin.) The fair consists of over 70 vendors from around the world and lasts through Christmas Eve. [Racked Inbox]

NEW YORK CITY—Loehmann's filed for bankruptcy today, becoming the latest in a wave of major chains felled by the recession. This might feel like déjà vu to people who've been following retail news for a long time: Loehmann's also filed Chapter 11 back in May of 1999, but after closing 25 stores and cutting more than $140 million in debt, it left bankruptcy behind. [Crain's]