Daffy’s Inc., the national chain of discount designer clothing stores, will reportedly close all of its 19 locations this year, including a Long Island location.
The Associated Press reported Monday that the Secaucus, N.J.-based retailer plans to liquidate after 51 years in business. No final closing date has been set.
The company’s one LI store in Manhasset employs 50 people. Daffy’s will continue payment and benefits to its 1,300 total employees for at least 60 days.
“This action was necessary due to the impact on its business of the uncertain economy and weak consumer spending and a lack of viable financial and business alternatives,” said Daffy’s in a statement.
Daffy’s, which sells national fashion brands at up to 80 percent off, also faced increased competition from larger discount retailers, according to analysts.
The news follows the moves by discount retailer Syms Corp. and its subsidiary Filene’s Basement, which liquidated all 46 of their stores earlier in the year.
-With Associated Press