stellarfun
Senior Member
- Joined
- Dec 28, 2006
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Once again, you demonstrate how little you know about the real world of business, finance, even government.Filene's Basement in the downtown would have survived....even through bankruptcy.
That store was still a money machine so Syms would have closed most of the Filenes Basements but probably would have maintain 1 or 2 and Downtown was always busy.
It's like Friendly's which just filed chap 11......They restructured to close 63 out of their 487 stores.
Menino saw this coming? Just like he saw the 10 Million dollar city loan to W-Hotel which got forced into bankrupcty. I bet he saw that coming also.
Syms, the parent of Filene's Basement, is closing not only all the Basement stores, but all the Syms stores as well. This is a liquidating bankruptcy, the whole company is closing down and going out of business. It would have zero interest in keeping one store in Boston. Maybe in bankruptcy court, someone will buy the name, like a New England railroad buying the name Pan Am.