The prices were low, but apparently not low enough.
After a drop in sales and "significant liquidity problems" that led to a sale to the Buxbaum Group, Filene's Basement has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.
The nation's oldest discount retailer also struck a deal that would see a Crown Acquisitions affiliate purchase 17 of Filene's Basement's 25 stores, including the original location in Boston's Downtown Crossing.
After a drop in sales and "significant liquidity problems" that led to a sale to the Buxbaum Group, Filene's Basement has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.
The nation's oldest discount retailer also struck a deal that would see a Crown Acquisitions affiliate purchase 17 of Filene's Basement's 25 stores, including the original location in Boston's Downtown Crossing.
Continue reading Filene's Basement: Out of the Basement and into Bankruptcy Court.
