Discount Apparel Chain Daffy's Reportedly To Liquidate

Law360, Wilmington (July 16, 2012, 8:45 PM EDT) -- Folding under pressure from well-heeled rivals, Daffy’s Inc. opted on Monday to shut down its chain of off-price clothing stores in the Northeast U.S., according to a Wall Street Journal report.

The Secaucus, N.J.-based company announced it would liquidate its 19 locations over the next few months, citing competition from rival TJX Cos., the parent of T.J. Maxx, in particular, the WSJ report said.

Daffy’s "deeply regrets that this action was necessary due to the impact on its business of the uncertain economy and weak consumer...
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