(Save the date:RealShare New Yorkcomes to the Grand Hyatt, New York,NY, October 9.)

NEW YORK CITY-JEMB Realty Corp., headquarteredhere, said Thursday that it’s buying leasehold interests, certainintellectual property and certain real estate fixtures ofDaffy’s, the off-price clothing chain. A separateJEMB affiliate will purchase three properties from Daffy’s.Financial terms were not disclosed. The announcement occurs the dayafter the Secaucus, NJ-based retailer filed for Chapter 11protection at US Bankruptcy Court for the Southern District of NewYork.

In mid-July, GlobeSt.com reported that Daffy’s planned toclose the doors on all 19 of its locations inNew York, New Jersey and Pennsylvania. Eleven of those stores arein New York City, including the flagship location in Herald Square.In an emailed statement, the company said last month that it“deeply regrets that this action was necessary due to the impact onits business of the uncertain economy and weak consumer spending,and a lack of viable financial and business alternatives.”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.