Filene’s Basement is officially on the block, but the move by parent Retail Ventures Inc. might not be enough to stave off a bankruptcy filing by the off-pricer.
Retail Ventures said in a regulatory filing with the Securities and Exchange Commission late Thursday that it would classify the business as “held for sale” in its annual statements. The filing also said that due to the reclassification of Filene’s, the group would need additional time to close its books for the year, and that it would file its annual report no later than May 1. Retail Ventures also owns the DSW shoe chain. It spun off an 81 percent share of Value City Department Stores in January 2008, and that business was later liquidated.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"