You'd think that in such uncertain economic times cheap clothing retailers would be booming. But things don't often work out the way you'd think. Hot on the heels of the death of Filene's Basement, comes the news that no less than Daffy's—a cheap city staple if there ever was one—is closing its doors. All of them.

Yup, sometime in the next few months all 19 Daffy's locations will be emptied and closed. In a statement the company said it "deeply regrets that this action was necessary due to the impact on its business of the uncertain economy and weak consumer spending and a lack of viable financial and business alternatives."

"The process will entail the gradual closing of Daffy’s stores and the liquidation of its merchandise," Michael McMullan, a spokesman, explained, noting that an exact drop dead date is still undecided. And sadly Daffy's—which lately has been advertising with a quirky "if we sold pizza, you'd get the whole pie for only $2.80" campaign—is not even close to the only big retailer with financial troubles lately. J.C. Penney has certainly been having its share of headaches as well.

Meanwhile, we did not know that Daffy's "traces its roots to 1961 when Irving Shulman opened a store called Daffy Dan’s Bargain Town in Elizabeth, New Jersey."