Less than three weeks into the going-out-of-business sales, five Loehmann’s locations have already closed completely, the Wall Street Journal reported today, and six more will lock up for the last time this Sunday. Loehmann’s also announced on its website that Monday, Jan. 20, was the last day it would honor store credits. Gift cards will be honored until Feb. 7. Loehmann’s Holdings Inc., the owner of the Loehmann’s retail stores, filed for chapter 11 protection in late December. Through the process, the company sold its merchandise to a group of liquidators, which is conducting the going-out-of-business sales. That sale was approved by the bankruptcy court on Jan. 7, and the going-out-of-business sales began on Jan. 9.
