Sign of the Times. Filene’s Basement to Close 11 Stores

January 29, 2009 • Fashion


Filene’s Basement, the off-price retailer known for its annual bridal gown sale stampede, is closing 11 of its 36 locations. I pray one of those locations isn't the one on Michigan Ave. in Chicago where I have found some amazing designer finds (Prada, Gucci and Miu Miu). I would be devastated. You know things are bad when an off-price retailer has to close stores.

many other retailers, Filene’s Basement has been impacted by the
economic downturn,” said a spokeswoman. “As a result of
this, we have had to implement cost-saving measures….While we have
worked with our landlords to look for solutions such as fair rent
reductions, we have not found sufficient relief to avoid taking steps
toward certain store closings.”

Three stores are set to close in
Maryland; two in Illinois; two in Pennsylvania, and individual stores
in Framingham, Mass.; Mercer, N.J.; Levittown, N.Y., and Tysons Corner,

Store-closing sales began at those locations on Monday.

Source: WWD

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