STATE — Fifty years after its founding in Elizabeth, the discounted designer clothing retailer Daffy’s appears to be heading out of business, the latest casualty of the global economic meltdown brought on by deregulation.
According to published reports, the company will liquidate its 19 stores over the next several months but 1,300 workers will remain employed and receive pay and benefits for at least 60 days.
Daffy Dan’s Bargain Town was opened in Elizabeth in April 1961, by World War II veteran Irving Shulman, who was six years old when his family immigrated to Rahway from Krolevets, which was then in Russia and is now in Ukraine.
Shulman promoted Daffy Dan’s boasting the most ridiculously low prices around, at one point selling silver dollars for 88 cents and promising “clothing bargains for millionaires.”
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