Tuesday, 6 April 2010
Loehmann's says fulfilling financial obligations
Off-price clothing chain Loehmann's denied a report in the New York Post on Tuesday that it had missed a $6 million interest payment on its debt last week.
The Post, citing sources close to the situation, also said suppliers to the company were holding back shipments due to its deteriorating financial situation.
"The premise of today's New York Post story is patently untrue. Loehmann's has fulfilled its financial obligations to its business partners and specifically, has made its debt interest payment on time, as scheduled," Loehmann's Chief Executive Jerry Politzer said in a statement.
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