Aurora Capital purchases Daffy’s with hopes of subletting spaces

Real estate investors Aurora Capital Associates have purchased the discount clothing chain Daffy’s for an undisclosed amount, sources told Real Estate Weekly.

Aurora is now searching for subtenants for all of Daffy’s 19 stores in the New York metropolitan area. Last month, the store announced that all locations will be closing over the coming months as the company liquidates its assets.

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Daffy’s has stores in some prime Manhattan locations — in Times Square, East 57th Street and Soho, among them. But whether the gamble to take control of the spaces will ultimately prove profitable has to do with the underlying terms of the leases, which are not yet known, the Weekly said. [REW] — Guelda Voien