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Loehmanns' Bad Luck

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Uh-oh. After defaulting on a loan, Loehmann's is now "exploring a pre-negotiated bankruptcy reorganization" in order to move the company forward. The discount designer store has 55 stores across the country, and with 4 in Chicagoland—Northbrook, Oak Brook, Morton Grove and Chicago—and with recent closure in Naperville, this definitely isn't good news for the shop, which always has ridiculously good deals on designer items. If you ever needed an excuse to buy a dress, though, we're pretty sure "I did it to help the company, they're in need!" will suffice. [Chicago Breaking Business]