Filenes Basement
Filene’s Basement Files for Bankruptcy
Apparently, personal shopping services can only do so much…
The discount department store filed for Chapter 11 bankruptcy (which I guess isn’t as bad as chapter 7) this morning in an effort to reorganize their corporate structure. So what does this mean for us shoppers? Nothing right now… hopefully the store will be able to turn things around because we need MORE discount stores… not less.
Read the AP article
(Full Disclosure: Back in the day.. like waaaay back in the day.. I used to work at the Filene’s Basement in the Mall of America. Once, the Reggae star Shabba Ranks came into my check out line, buying a pair of black socks for $1.99. He wore really dark sunglasses, even though it was 8pm at night. )
The Budget Fashionista’s Weekly Retail Closing Report
Retailers have taken a lot of hard hits lately, and while some are getting back on their feet after the holiday slump, others are, well, giving up.
The Phillips-Van Heusen Corporation, owner of DKNY, Calvin Klein, and other clothing brands, will close 175 stores; this is a big blow to the outlet malls of the country. But Van Heusen isn’t alone. Here’s a wrap-up of the latest store closures… hint: there’s a liquidation sale coming to a store near you.
Steve & Barry’s (where will Sarah Jessica Parker’s “fashion you can afford to love line”, BITTEN, go?)
Cub Libby Lu (Saks is letting go of this retailer, aimed at fashion-savvy young girls, so parents have lots of great deals to pounce on)
Others retailers closing stores…
Mervyn’s
Filene’s Basement
Ann Taylor (117 stores)
Gap Inc (85)
Foot Locker (140)
Dillard’s (26)
Sigrid Olsen (54)
Pacific Sunwear (153 demo stores)
Macy’s (11)
Fashion Bug (150)
Cache (23)
JC Penney may be scaling back soon, too.
Have a tip on a store closing? Click here to send us your tips
Summer Sale Alert: Filene’s Basement
The Deal: 15% off already reduced clearance items at Filene’s Basement—from today ‘til July 27!
What We Say: We love Filene’s Basement for their obscenely low prices in the clearance section. Those little stickers on the tags call out to us. “Buy me!” “Pick me!” With this extra 15% off, we might give in to their begging. When you’re asked the question “What was your best bargain?” the results of this shopping expedition to Filene’s may be the answer. While we may not risk bodily injury for great bargains, we will arm ourselves with sneakers and dressing room-friendly clothing for this sale.
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