Monday, May 4, 2009

Brides May Have To Hope For Bargains Elsewhere As Filene's Basement Files For Chapter 11

Filene's Basement Files For Chapter 11 Filene's Basement was sold April 22 to an affiliate of Buxbaum Group, a liquidating and consulting company based in Agoura Hills, Calif. Its owner of late had been Retail Ventures whose portfolio also once included Value City which it closed last year and currently DSW and a portion of both American Eagle and American Signature Furniture. The local Filene's once had an American Signature above it but it was closed late last year. They both had great locations in Lenox Marketplace, across from Phipps Plaza in the heart of Buckhead. Retail Ventures said before the sale it was selling Filene's for no proceeds after the chain experienced "significant liquidity problems.'' Its unknown if all stores will be closed as result of the bankruptcy filing, but I would not be surprised if all were closed. Repeat Atlanta!

2 comments:

Sharon Cohen, Global Career Advisor | said...

Does this mean the Buckhead store is closed or only under new Management?

ProShop99 said...

This means the store is under new ownership but not necessarily new management. With the bankruptcy filing, the closure of all stores is likely.