Retailer Loehmann’s going out of business

Loehmann’s, a specialty retailer that has had a presence in Georgia for years, is going out of business and closing its 39 locations, including two in metro Atlanta.

Beginning Thursday, the retailer, which opened its first store in New York in 1921, said it will begin selling off $65 million in inventory. The company’s metro Atlanta locations include 2480 Briarcliff Road in Atlanta and 120 Perimeter Center Place in Dunwoody.

Loehmann’s blamed declining economic conditions in key markets, including New York, California, Florida and the Midwest, for a drop in business. The retailer is also selling fixtures and equipment from all 39 stores.