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Home »Unlabelled » Return of Filenes Basement
Monday, August 24, 2015
Return of Filenes Basement
We are not certain but it appears that the retailer may return as an online clothing resource rather than a brick & mortar store. However, we are not certain at this time.
At the Filenes Basement website it say’s, “Our New Site is Coming Soon! Don't Miss Out! Stay up to date on our new online store launch and special offers.”
Filene's Basement, also called The Basement, was a Massachusetts-based chain of department stores which was owned by Retail Ventures, Inc. until April 2009 when it was sold to Syms. The 2009 economic crisis negatively impacted the chain, prompting the closing of many stores and the eventual sale of the chain from Retail Ventures, Inc. to Buxbaum Group, which filed for bankruptcy in May 2009. Filene's Basement was then sold to Syms Corporation, which also owns the Syms chain of off-price stores. In November 2011, Syms filed for bankruptcy, resulting in a liquidation sale. The last Filene's Basement stores closed permanently on December 29, 2011. Well, maybe not permanently.
Filene's Basement and parent company Syms Corporation posted messages on their respective websites thanking customers for their continued support, stating that although their stores are currently closed, they expect their famous brands to continue on. They encouraged people to leave their personal information in order to be informed of any future relaunch. In January 2015, a new website was posted on www.filenesbasement.com encouraging people to sign up for information leading to a possible relaunch.
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