Majors

Save E-mail Print Most Popular RSS Reprints

Filene's Basement files for Chapter 11

By null
May 04, 2009

Similar Stories | Topics

Filene's Basement filed for Chapter 11 of the Federal Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The company announced that it had entered into an agreement, subject to Bankruptcy Court approval, with an affiliate of Crown Acquisitions to purchase 17 of the chain's 25 stores, including the flagship stores in Boston and Union Square. Crown intends to continue to operate the stores under the Filene's Basement name.

The fine-jewelry department at Filene's Basement stores is run by Chicago-based Ultra Stores Inc., which operates Ultra Diamonds stores and the licensed fine-jewelry departments in several off-price stores.

Ultra filed for Chapter 11 bankruptcy protection on April 9, with plans to reorganize and emerge quickly.

It is unknown at this point how Filene's situation might impact Ultra's plans.

Source: Commercial Property News with additional reporting by National Jeweler.
Save E-mail Print Most Popular RSS Reprints

More Like This

Filene's Basement sold to liquidator
April 24, 2009 | National Jeweler Network
Ultra Stores files Chapter 11
April 09, 2009 | National Jeweler Network
Ultra Stores to close 12 locations
April 15, 2009 | National Jeweler Network
TOPICS
Business | Company Activities and Information | Company Bankruptcies
More Watches

Design Portfolio

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement