Loehmann's to complete redemption of 11% notes

New York, Oct. 14 - Loehmann's Holdings, Inc. said that it would redeem $5.7 million of its outstanding 11% senior notes, the balance of its outstanding notes.

Loehmann's a Bronx, N.Y.- based apparel retailer, said that the redemption, which will take place on Nov. 10, brings the total amount of notes redeemed since November 2002 to $26.5 million.

The company said that the notes will be redeemed at face value and payment will reflect both principal and interest accrued to the redemption date. The notes will cease bearing interest after the redemption date. Following the redemption, Loehmann's will have no remaining long-term indebtedness.

The company expects to enjoy "significant" interest savings going forward.

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