Loehmann’s Holdings Inc., the New York-based seller of discounted designer goods operated by Whippoorwill Associates Inc., sought bankruptcy protection for a third time amid growing competition from discount chains, Bloomberg News reported today. Loehmann’s listed assets of as much as $100 million and debt of as much as $500 million in a chapter 11 petition filed bankruptcy court yesterday. Started by Frieda Loehmann in Brooklyn in 1921, the chain’s 40 stores in 11 states sell designer goods with discounts from 30 percent to 65 percent, according to the company’s website. Loehmann’s carries brands such as Michael Kors and Calvin Klein. U.S. retailers’ sales dropped during the economic slump that began in 2007 as consumers, whose spending accounts for about 70 percent of the U.S. economy, tried to conserve cash. Loehmann’s previously filed for chapter 11 protection in May 1999.
