Designer Chain Daffy's To Close All NYC Locations

by Adel Manoukian Designer duds retailer Daffy's is closing all of its 12 NYC locations in the upcoming months. Spokesperson Michael McMullan released the news earlier this week to the Associated Press that the 51-year old chain has been going through much financial turmoil, having competition from similar chains, like Marshalls and TJ Maxx. Other similar businesses, like Syms and Filene's Basement have also gone out of business recently due to better deals from other fashion stores as well as the frail economy. Daffy's, a Secaucus, New Jersey-based retailer, has 19 stores in total-one in Philadelphia, eight in Manhattan, and six in New Jersey. It offers customers national fashion brands at up to 80% off the original cost. But now that these national brands are opening up their own outlets, they leave outside-retailers with little opportunity to buy last season's clothing to sell at a discounted rate. The chain, whose ads have recently sprouted on trains, will ensure that its 1,300 employees, located around New Jersey, New York, and Philadelphia, will receive their paychecks and benefits for at least 60 more days. The exact date of final liquidation is unknown.