It appears that the 92-year old discount clothing company will finally give up the retail ghost as it prepares to wind down and liquidate its assets.  The company filed its third bankruptcy case last week under Chapter 11 so that it could have time to pursue “a wind-down and liquidation process” through the bankruptcy courts.  The retailer tried to sell itself as an ongoing business concern last month but none of the 39 prospective buyers were interested.  A bankruptcy auction will be scheduled to dispose of the company’s assets.

For more details read the full story here, “Loehmann’s files for bankruptcy, plans sale to liquidators.”