Discount clothing retailer Daffy's to liquidate - 13 WTHR Indianapolis

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Discount clothing retailer Daffy's to liquidate

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NEW YORK -

Another retail name appears headed toward the scrapheap.

Daffy's, which sells national fashion brands at up to 80 percent off, is going out of business. The fiercely competitive retail landscape had earlier claimed rivals Syms and Filene's Basement as casualties.

Michael McMullan, a spokesman for the chain, confirms the retailer will be winding down business at its 19 stores in New Jersey, Pennsylvania and New York over the next several months. About 1,300 employees will be affected.

McMullan says the closing was necessary due to the uncertain economy, weak consumer spending and lack of viable financial alternatives.

Daffy's has not decided the date for the liquidation of the business.

The company, based in Secaucus, New Jersey, has been in business for 51 years.

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Discount clothing retailer Daffy's to liquidate - 13 WTHR Indianapolis

Discount clothing retailer Daffy's to liquidate

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