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Filene's Bankruptcy Finally Over

So Filene's Basement is going to survive. The discount chain emerged from Chapter 11 bankrpuptcy, and it's 23 stores are now owned by Syms Corp. and Vornado Realty Trust. Both firms will operate Filene's under its iconic name. But its flagship location in Boston's Downtown Crossing is still in limbo. It...

By Ian Ritter | Updated on January 28, 2010

So Filene’s Basement is going to survive. The discount chain emerged from Chapter 11 bankrpuptcy, and it’s 23 stores are now owned by Syms Corp. and Vornado Realty Trust.Both firms will operate Filene’s under its iconic name. But its flagship location in Boston’s Downtown Crossing is still in limbo. It seems like this environment is a good one for a chain like Filene’s. With discounters like TJX Cos. doing extrememly well and major department stores like Bloomingdale’s opening outlet stores, the consumer is obviously looking for deals.Will Filene’s survive post emergence?ALSO: Retail Jobs Exist Despite Recession: Q&A With ShopTheJobs.com

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