Filene's Basement shrinking

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Discount retailer Filene's Basement is blaming non-negotiable rents as a main driver behind 11 store closings. The number of closings is unusually high; Filene's Basement has 36 stores, and the closings are nearly one-third its total.

Filene's Basement has had an up-and-down history prior to this announcement. It has had as many as 56 and as few as 14 stores over the past 15 years, and dealt with a bankruptcy filing in 2000.

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Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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This page contains a single entry by David Wertheimer published on January 21, 2009 1:06 AM.

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