Syms and Filene's going out of business
Photo credit: AP, 1999 | Filene's Basement and its owner, Syms Corp., are going out of business after filing for Chapter 11 bankruptcy on Wednesday, Nov. 2, 2011. The stores expect closing sales to start before the holiday shopping. This store is in Watertown, Mass.
Apparel pioneer Syms Corp. is calling it quits, more than a half century after it became one of the first retailers to offer consumers off-priced name-brand clothing.
The company filed for Chapter 11 bankruptcy Wednesday and plans to close its 46 stores, located mostly in the eastern United States. A statement cited the economy and "increased competition" from large department stores and...
