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Syms, Men's Wearhouse Compete for Filene's Basement Stores
May 28, 2009
Discount clothing rivals Syms and Men's Wearhouse have entered the bidding war to buy the bulk of bankrupt discount retailer Filene's Basement stores, reported The New York Post. Earlier this month, Filene's, after filing for Chapter 11 bankruptcy protection, said it would sell 17 of its 25 stores to stalking horse bidder Crown Acquisitions, in partnership with Chetrit Group. But now two more players have entered the ring. Syms has teamed up with real estate firm Vornado to help finance its bid, and has its eye on the company's flagship store in downtown Boston, The Post said. Each of the bidders reportedly intend to buy at least 15 Filene's locations.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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