USA: Loehmann's Reorganization Plan Approved
Loehmann's, Inc (OTC:LOEHQ) announced today that the company's second amended plan of reorganization has been confirmed by the US Bankruptcy Court for the District of Delaware. The approved plan, which will facilitate the company's formal emergence from Chapter 11, is expected to become effective in approximately two weeks. Robert N. Friedman, Loehmann's chairman and chief executive officer, said: "We are very pleased with the progress the company has made over the last year in our effort to exit from Chapter 11. We are excited to be entering a new era and look forward to the opportunities that lie ahead."
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