Report: 4 More Filene's Basement In Mass. To Close
Filene's Basement is reportedly closing another four stores in Massachusetts. The Boston Globe said store employees in Braintree, Peabody, Saugus and Watertown confirmed that the discount retail outlets will close by the end of the year. That would leave only three Filene's Basement stores in Massachusetts, in Newton, Norwood and Boston's Back Bay.
The newspaper said company officials did not immediately return calls seeking comment.
Secaucus, N.J.-based Syms Corp. acquired Filene's Basement out of bankruptcy protection in the second quarter of 2009 for $62.4 million, but has struggled to turn the chain around.
This program aired on October 18, 2011. The audio for this program is not available.