FILENE’S BASEMENT WILL LIQUIDATE OVER THE HOLIDAYS AS CHAIN GOES BANKRUPT

Syms Corp., which owns Filene’s Basement, declared bankruptcy yesterday and will be liquidating its stores — including the big store on Broadway between 79th Street and 80th Street — over the holidays. Syms went bankrupt after attempting in vain to find a buyer or otherwise save the store. The liquidation sales will run through the end of the year, and in some cases into January, the company said.

The store had just expanded, adding 22,700 square feet on Broadway and 80th Street, last year. It was a combined Syms/Filene’s store and Crain’s expects a “fashion-forward” retailer like Guess or Zara to consider the space.

The Filene’s store on 79th has been open since 1993: Here’s the New York Times article about the store coming to 79th Street. Filene’s moved into a spot that used to house Lionel Kiddie City, which was one of my favorite stores when I was a kid but went bankrupt in 1991. Filene’s was founded in 1909.

Photo by Avi.