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Loehmann's has filed for Chapter 11 bankruptcy. WWD reflects: "The chain is essentially the last of its line, with former competitors Filene's Basement, Syms and Daffy's all hitting the retail graveyard after consumers determined that their business model of securing season-old merchandise and selling at up to 65 percent off an old model. That's because online competitors can off the same discount for current season merchandise." [WWD]