Discount retailer Daffy's going out of business

Daffy's re-opened its Manhasset in April 2011 after it was... — Daffy's re-opened its Manhasset in April 2011 after it was closed by a fire in its building. Daffy's chief executive at the time Caryn Lerner, right, tends to the ribbon with TV reality celebrity Countess Luann De Lesseps. Lerner left the position in May 2012. Credit: David Pokress, 2011

By Lisa DuJuly 16, 2012

Discount retailer Daffy's Inc. is going out of business and will be shuttering its store doors through the fall, the company announced Monday.

Daffy's currently operates 19 stores in New Jersey, New York and Pennsylvania, with a majority of the stores located in New York City. The company is based in Secaucus, N.J. and employs more than 1,300 people.

There is one Daffy's store on Long Island, located on Northern Boulevard in Manhasset. Newsday has reached out to Daffy's for information concerning its Long Island location.

The company had been beset by financial troubles as competition in the retail sector increased and sales growth slowed. There had been much speculation about the future of Daffy's in the past year.

The Daffy's closing was first reported by Women's Wear Daily last Friday and confirmed Monday.

There's no clear timeline for Daffy's liquidation, but the stores are expected to close as soon as September and sales will be starting soon, according to Women's Wear Daily.

Photo: Daffy's re-opened its Manhasset store a year ago after it was closed by a fire in its building. Daffy's chief executive at the time Caryn Lerner, right, tends to the ribbon with TV reality celebrity Countess Luann De Lesseps. Lerner left the post this past May. (April 27, 2011)