We had one for years, and I could never understand how they survived. They sold very expensive label merchandize, marked down somewhat.
But the resulting prices were still outrageous.
An alternative started in our area, Stein-Mart and I think they do okay.
Stein-Mart is not a Loehmann’s replacement. Stein Mart is like a Burlington Coat Factory, not in the same league as Loehmann’s.
Loehmann’s carried lots of high end labels. You won’t find those at Marshalls, TJ Maxx, Burlington or SteinMart.