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The New York Post today reports rumors of financial troubles for discount retailer Loehmann's. According to Post sources, Loehmann's financial woes and missed payments have caused suppliers to withhold shipments to the retailer. (Please, please not the designer shoes....) The Post further stoked feelings of retail panic by reporting that Loehmann's impending "dire cash shortage" may affect orders and shipments for the upcoming Fall season. Loehmann's is owned by Dubai-based Istithmar, which, also owns Barneys New York (but that's a whole other article and it also explains the Barneys Warehouse Sale leftovers appearing at Loehmann's). There are currently two Loehmann's locations in Manhattan: Chelsea and Upper West Side. With the closure of the Chelsea Filene's Basement back in February, plus rise of online sample sales and outlets, this rumor is not a complete surprise, but hopefully it won't come to fruition.
· Loehmann's Crisis [NYP]
· RackedWire: Dubai and Barneys [Racked]
· Warehouse Sale Redux: Barneys Lands in Loehmann's [Racked]