New York -- New York City metro area retailer Daffy’s is going out of business. The discount apparel chain will close all of its 19 stores (eight of which are in Manhattan) this fall, according to various reports.
The closings are not totally unexpected. In June, Crain’s New York Business reported that Daffy’s was having trouble paying its vendors.
“Daffy’s is a shade of its former self and does not have access to the labels as it once did,” said Faith Hope Consolo, chairman of the retail group at Prudential Douglas Elliman, noting stiff competition from the likes of Century 21, Topshop and H&M, in the Crain’s report. “Quite frankly, there are just much more and better choices for affordable fashion than ever before.”