NAN DUSKIN CLOSING DOORS
NEW YORK — Nan Duskin, a premier designer store in Philadelphia since 1926 that filed Chapter 11 bankruptcy in January, is calling it quits, at least for now.
The store, a 30,000-square-foot unit in the Rittenhouse Hotel in downtown Philadelphia, commenced a going-out-of-business sale on Friday, and Nan Duskin’s Baltimore location closed last month.
However, according to Nan Duskin chief executive Louis N. Marks, whose ND Acquisition purchased the store in June 1992, “Our intention at this point in time is to continue the Nan Duskin tradition in Philadelphia. We are currently seeking a new location that would afford better accessibility and walk-by traffic than our current site offers.”
“The strategy of the store-closing sale is to fund the plan of reorganization,” said Marks.
He called the going-out-of-business sale, “Our biggest, most significant sales event in the 68-year history of Nan Duskin.” A final closing date for the store has not been set.
Nan Duskin’s closing underscores the problems plaguing upscale specialty retailers in recent years. Several have closed, among them Martha’s, Sara Fredericks, Lou Lattimore and Amen Wardy.
Nan Duskin was at one time a major presence at the European designer collections. It catered to the carriage trade.