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The economic crisis took its toll on the chain, and owner Retail Ventures, Inc announced on January 20, 2009 its plans to close 11 of the chain's 36 stores. [10] The store closures did not help, and on April 22, 2009, Retail Ventures, Inc. announced that it had sold the remaining 25 Filene's Basement stores to the Buxbaum Group, a company that specializes in liquidations.
Marcy Syms joined the family business in 1978 as director of marketing and real estate. In 1983, when SYMS Corp went public, she was named president and a year later, added the role of chief operating officer. In 1998, she was named chief executive officer, and in 2009, she led the company through the purchase of Filene's Basement. She also ...
Filene's (/ f aɪ ˈ l iː n z /, originally William Filene & Sons Co.) was an American department store chain; it was founded by William Filene in 1881. The success of the original full-line store in Boston, Massachusetts, was supplemented by the foundation of its off-price sister store Filene's Basement in 1908.
Today through Tuesday, April 20, 2010, get 20% off any one item at Filene's Basement with this coupon. It works on regular-, sale-, or clearance-priced items. Filene's Basement has locations in CT ...
This story was updated on 9/2/11 at 1:40 pm Be on the look out for going-out-of-business sales at a Filene's Basement near you. The Massachusetts-based discount retailer announced Wednesday ...
Filene's Basement, the Boston-based discount chain that claims to be the very place where bargains are born, is on its deathbed. Vendors, who have been stiffed for months, have threatened to push ...
Retail Ventures was a holding company originally created in 2003 for DSW (NYSE: DSW), Filene's Basement, and Value City Department Stores. The retailer's initial public offering was in 1991 under the Value City name. Value City went on to purchase the DSW shoe business in 1998 and Filene's Basement in 2000.
Filene's Basement, one of the malls anchors, filed for bankruptcy protection on May 4, 2009. [9] It was acquired at auction by Syms Corporation, which reached an agreement with Simon Property Group to keep its Square One Mall, South Shore Plaza, Northshore Mall, and Arsenal Mall locations open until December 2011. [10]
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