Earlier this week, it was reported that Loehmann‘s is in financial trouble and aren’t able to make their interest payments on time.
Now, the retailer is blasting the New York Post for publishing the article, claiming it was completely false.
CEO Jerry Politzer said in a statement:
“The premise of today’s New York Post story is patently untrue. Loehmann’s fulfilled it’s financial obligations to it’s business partners and specifically, made its debt interest payment on time, as scheduled. We are pleased with our business momentum and our vendors should feel confident doing business with our uniquely, fashion forward off price concept. Our vendor relationships are the lifeblood of our business. In turn, our customers should know that they can count on Loehmann’s stores to provide the freshest fashions whenever they shop our stores, at prices 35-65% less than department stores prices.”
The Post has since removed the article and issued a retraction.
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