Filene’s Basement Inc., the off-pricer known for its annual bridal gown sale, is closing 11 of its 36 locations.
“Like many other retailers, Filene’s Basement has been impacted by the current economic downturn,” said a spokeswoman for the Burlington, Mass.-based retail chain, part of Retail Ventures Inc. “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, Va.
Store-closing sales began at those locations on Monday. After the closures, Filene’s Basement will operate 25 locations.
Filene’s Basement opened in 1909, and became part of Federated Department Stores Inc., now Macy’s Inc., in 1929. It was sold to May Department Stores Co. in 1988, and then acquired in 2000 by Value City Department Stores LLC. After a reorganization at Value City, Filene’s Basement became part of Retail Ventures Inc., the holding company that operates Filene’s and discount footwear retailer DSW Inc.
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