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Daffy's Inc. History
Daffy's Inc, formerly known as Daffy Dan's Bargaintown, was founded in September 1961 by Irving Shulman. Originally located on Dickinson Street in Elizabeth, NJ. After the Great Recession of 2008, the company had many management issues along with a stale business model. It filed for Chapter 11 Bankruptcy in the summer of 2012 and closed all 19 store locations by September 2012. Daffy's closing has left a major void in the NYC market for very forward fashion merchandise from the Italian market. This was the company's differentiator from the off-price competition. Although many off-price retailers have tried to replicate this product mix, none have succeeded with the high taste level and extreme prices that was Daffy's ownership.