Update: Filene's Basement filed for bankruptcy

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Discount retailer Filene's Basement filed for bankruptcy and agreed to sell 17 of its 25 remaining stores as part of its reorganization. The filing is expected to allow the stores to continue operating while the new owner takes over the chain.

Filene's Basement sold itself to a liquidation firm last month as preparation for the move, three months after closing a third of its stores to eliminate underperforming locations.

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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 May 4, 2009 10:25 AM.

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