
The auction for Filene's Basement was adjourned until Monday 15 June, as rival bidders upped the ante over who will ultimately own the Boston-based discount department store.
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The auction for Filene's Basement was adjourned until Monday 15 June, as rival bidders upped the ante over who will ultimately own the Boston-based discount department store.
An auction for assets of bankrupt retailer Filene's Basement will reopen on 12 June, according to a court notice filed on Wednesday 9 June, possibly derailing a sale to Men's Wearhouse.
Several rival bidders for bankrupt retailer Filene's Basement are contesting the results of its auction, saying the $67 million winning bid for the company from Men's Wearhouse was improper.
Men's Wearhouse posted a better-than-expected quarterly profit, helped by cost-cutting measures and operational efficiencies, and forecast second-quarter profit that could exceed analysts' estimates, sending its share...
U.S. discount clothing store Filene's Basement Inc, which filed for bankruptcy protection a month ago, plans to sell its trade name, some leases and its retail inventory to an affiliate of Men's Wearhouse for $67 mill...
Clothing retailers Syms Corp and Men's Wearhouse are entering the battle to buy the majority of the stores of Filene's Basement Inc, which filed for bankruptcy protection earlier this month.
Shares of Men's Wearhouse rose 21 percent on Thursday March 12th, a day after the clothing retailer posted a narrower-than-expected fourth-quarter loss.
U.S. retailers posted disappointing September sales on Wednesday, hurt by a global financial crisis that prompted shoppers to turn frugal and raised concerns of an even weaker holiday shopping season.
Men's Wearhouse slashed its third-quarter profit outlook by about 33 percent as its U.S. stores saw fewer shoppers due to challenging economic conditions, sending its shares down more than 10 percent.U.S.
Competition and a move away from tailored dressing, only exacerbated by a weak economy, are hurting the men's suit business hard, and retailers are adding to manufacturers' pain by demanding more discounts.