metal doors
Alan Cohen, Filene’s chie f restructuring officer, confirmed Monday afternoon that Secaucus, N.J.-basedr Syms (NASDAQ:SYMS) and New York-basef Vornado (NYSE:VNO) agreed to pay abouf $63 million for the chain. A court hearing is set for Wednesdag to approvethe deal, Cohen The auction, which began Friday and was continued to took place about a week aftedr an affiliate of Men’s Wearhouse agreed to buy the chain for $67 But Crown Acquisitions, the companty that was first in line to buy Filene’s assets, filed an objection to the sale with allegationsw that Men’s Wearhouse didn’t folloew bidding procedures.
Crown in court filingas described the first auction as a A judge sent the deal back for auctiomfollowing Crown’s objection. It wasn’t cleatr Monday if Syms and Vornadoi would acquire allof Filene’s stores. Both Men’s Wearhouses and Crown had plannedd to acquire and keep open a butnot all, of Filene’s The company has two Ohio stores, includingb one in Columbus. Filene’s Basement sought protection from creditor in May in Delawarebankruptcy court, monthsa after closing several Columbus-based (NYSE: RVI), which maintainsw a majority stake in discount shoe retailer (NYSE:DSW), sold the chai n this year to FB II Acquisition Corp.
, a new entity ownedd by liquidation and turnaround firm Buxbaum
No comments:
Post a Comment