The chain was best known for its "Back Room", where women interested in fashion could find designer clothes at prices lower than in department stores.

While the largest portion of its client base was historically women, the chain also offered shoes, accessories, and men's clothing.

[1] Once the merchandise was liquidated, all stores were closed and Esopus Creek, the private equity fund which had bought the rights to the Loehmann's name, continued to operate the company as an online retailer.

Frieda continued to run the original store, buying the building and moving into living quarters above it.

[5] Soon after her death in 1962, the Bedford Avenue store was closed,[5] and the Charles C. Loehmann company went public and began to expand to a wider area.

[9][1][10] During bankruptcy, Esopus Creek Value Series Fund LP purchased Loehmann’s intellectual property assets and customer lists starting in March 2014 and Tiger Capital Group, A&G Realty Partners, and SB Capital Group purchased the inventory, furniture and fixtures, accounts receivable, and cash component.