Filene's

Not Enough Educated Consumers: Syms Files For Bankruptcy

11/10/2011

Syms clothing company and its affiliate, Filene’s Basement, filed for Chapter 11 bankruptcy.

"This has been a challenging time for Syms and Filene's Basement," Syms Corp. CEO Marcy Sims said Wednesday in announcing the bankruptcy. "We have been faced with increased competition from large department stores that now offer the same brands as our stores at similar discounts."

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