Headlines

Filene's Basement Finds Buyer

Liquidation firm Buxbaum purchases discount chain.

Published

15 years ago

April 22, 2009

VMSD Staff

Retail Ventures Inc. (Columbus, Ohio) has sold its Filene's Basement (Burlington, Mass.) business to liquidation and turnaround firm Buxbaum Group, saying it won't book any proceeds from the transaction. Filene's Basement has retained Pachulski, Stang, Ziehl & Jones LLP as counsel and Alan Cohen as chief restructuring officer.

Last week, the owner of the 25-store chain reported sales had continued to decline despite its closing 11 stores in January. Retail Ventures also owns and operates more than 250 DSW discount shoe retail stores.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design