Daffy’s, the 51-year-old Big Apple bargain haunt, is heading to its final resting place in off-price heaven alongside fellow discounters Filene’s Basement and Syms.
All three chains earned their fortunes and loyal followings by hawking designer duds at discount prices for nearly a half-century.
But the chains never recovered from the painful recession or the weak economy, while waging costly rivalries with each other and newer entrants such as T.J.Maxx and Marshall’s over shrinking supplies of off-price designer duds.
Filene’s and Syms filed for bankruptcy in November, swamped by rising debt and stalled sales.
Daffy’s 19 stores — including eight in Manhattan — will be liquidated in fire sales over the next few months, the company said.
The Secaucus, NJ-based chain has 1,300 employees in New York, New Jersey and Pennsylvania. It was founded in 1961 by Irving Shulman as Daffy Dan’s Bargain Town in Elizabeth, NJ.